Tag: Public Pensions

The recent enactment of sweeping changes in federal laws governing private pension plans, the issuance of a scathing auditors' report on the collapse of San Diego's pension fund, and the disclosure of potential shortfalls in New York City's pension funds all point to what should be the nation's next big target for financial reform. Read More

The soaring cost of New York State's public pension systems can be permanently controlled by shifting to the sort of employer-subsidized individual retirement plans now popular in the private sector, according to an updated study of the state's pension structure by the Empire Center for Public Policy. Read More

Attacking Albany's complicity in "the unchecked growth of pensions" for New York employees, Mayor Bloomberg last week said it was high time the city gained more direct control of its own retirement benefits. Read More

Eliot Spitzer's first legislative session as governor ended last week with gridlock on some of his top priorities. But while they couldn't agree on campaign-finance and public-construction reform, Assembly Democrats and Senate Republicans were firmly united in their willingness to pander to New York's public-employee unions. Read More

With prosecutors in vestigating possible criminal misconduct in former state Comptroller Alan Hevesi's management of New York's $155 billion state pension fund, there's talk in Albany about making fundamental changes in the powers of the comptroller's office. Read More

New York's deepening fiscal crisis should refocus public attention on the need to reform the city's unsustainably costly package of generous retirement benefits for municipal workers. Read More

Barely three months after the state Legislature approved a $2.3 billion package of tax and fee hikes to bail out the financially troubled Metropolitan Transportation Authority (MTA), members of the MTA's largest union have been awarded a pay increase that will break the authority's tenuously balanced budget. Read More