Pension woes for 1199 by Bill Hammond | | NY Torch

Two pension funds affiliated with 1199 SEIU, the state's largest and most influential union for  health-care workers, recently disclosed that they are in critical status due to funding or liquidity problems for an 11th straight year.

Essential Plan surplus hits $1.2B by Bill Hammond | | NY Torch

The balance of unspent money in the Essential Plan Trust Fund ballooned to a new high of $1.2 billion as of March 31, records from the comptroller's office show. The surplus more than tripled since the same time last year – even as the Trump administration disrupted federal aid for the program, which provides health coverage to low-income New Yorkers, and the Cuomo administration diverted $635 million in Essential Plan funds to subsidize struggling hospitals.

Embracing the OPEB iceberg by E.J. McMahon | | NY Torch

In what's become an annual tradition, New York state lawmakers have re-introduced bills designed to prohibit or restrict changes to expensive continuing health insurance coverage for current and future government retirees—which would effectively lock in a growing unfunded liability of more than a quarter trillion dollars for taxpayers across the state.
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