Research

New York’s public-pension system has become the epicenter of an in fluence-peddling scandal that has at tracted the attention of the SEC as well as state Attorney General Andrew Cuomo. But the millions in shady “placement fees” pocketed by a few politically connected middlemen are small change compared with the mushrooming cost of lavish pension benefits for state and local government retirees. Read More

Today’s New York Times that state and local government tax-funded pension contributions in New York may triple over the next five years should come as no surprise to anyone who has made an effort to understand the current system and its p Read More

California is printing up $3.2 billion worth of "IOUs" to send to vendors and to people expecting cash payments from the state, including taxpayers due rebates for overpayment. Is this legal? Read More

Via the redoubtable , recently released Census data on state and local public pension systems show that, compared to national averages, New York government employees directly contribute a much smaller share of their own retirement costs. And that's Read More

Wall Street’s woes leave the state no choice but to slash spending. David Paterson took the oath as governor of New York on March 17, 2008, succeeding the disgraced Eliot Spitzer on the same day that Bear Stearns collapsed. Read More

The short list of "critical, non-controversial" measures Governor Paterson has sent the deadlocked state Senate for possible action tonight includes a bill authorizing Nassau County to issue bonds to finance early retirement incentives for county emp Read More

In 2008, the state Metropolitan Transportation Authority employed 539 police officers who were paid an average of $96,553, including overtime and shift differentials.    A salary database of all 78,393 MTA employees during 2008 -- searchable by na Read More

As part of the February stimulus package, Washington offered new inducement for municipalities to issue taxable bonds. The program may have the effect of pushing up tax rates for the wealthy. Read More

That mindlessly right-wing rag, The New York Times, has that makes a simple and salient point about New York City pensions. If Albany won't cooperate on real pension reform, one good way for the mayor to keep pension costs down is to contro Read More