Starting next year, New York's state government plans to (finally) stop deferring a portion of its annual required pension payments—but over the next 10 years, it will still have to repay $3.3 billion it owes on pension fund borrowings since fiscal 2011. Read More
Tag: Public Pensions
The Nassau County Police Department is bracing for at least 70 retirements through the end of the year as officers take advantage of overtime earned during superstorm Sandy to boost their pensions. Read More
The New York State Teachers' Retirement System (NYSTRS) earned only 5.2 percent on its investments—well short of its assumed rate of 8 percent—during the fiscal year ending last June 30. But taxpayer contributions to NYSTRS, already due to drop by more than four full percentage points of covered payroll in school year 2015-16, nonetheless are projected by the system actuary to decrease by a little bit more (up to 1.76 percentage points) in 2016-17. Read More
New York City firefighters and fire officers who retired during the 2015 fiscal year were eligible for average pensions of $113,341 pension, a nine percent increase over the previous year, according to data posted today on SeeThroughNY, the Empire Center's transparency website. Read More
New York's six-figure public sector pension club keeps growing, with 2,931 retirees getting benefits above $100,000, according to the latest figures. That's beyond the 2,700 six-figure pensioners counted a year before. Of those, 1,777 were poli Read More
The golden years are looking a lot greener for a growing number of retired public workers. Data released Thursday showed that 2,931 retired state and local government workers earned six-figure pensions during the 2015 fiscal year, up from 2,700 the previous year. Read More
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