Liu’s magical thinking on pensions by E.J. McMahon | | NY Torch

As public pension costs continue to rise, straining municipal budgets to the breaking point, New York City Comptroller John Liu has emerged as a stalwart defender of the status quo. Liu doesn’t deny that tax-funded pension costs are exploding; instead, he says the traditional defined-benefit system offers “a better bang for the buck.”

Pension impact UPDATE by E.J. McMahon | | NY Torch

Pension bills for New York's local governments and school districts will rise by a combined total of at least $359 million as a result of the rate increase announced by the state comptroller this week, based on the latest available salary data from t...

Empire State Pensions Go “Boom” | Reports

Taxpayer-funded employer contributions to public pensions in New York State will rise by billions of dollars in the next few years, threatening to divert scarce resources from other essential public services in the midst of a fiscal crisis, according to a new report from the Empire Center for Public Policy.

New York’s Exploding Pension Costs by E.J. McMahon | | Reports

Public pension costs in New York are mushrooming—just when taxpayers can least afford it. Over the next five years, tax-funded annual contributions to the New York State Teachers’ Retirement System (NYSTRS) will more than quadruple, while contributions to the New York State and Local Retirement System (NYSLRS) will more than double, according to estimates presented in this report.