Blog posts tagged with "Pension"

The City’s FY 2011 Budget: The Buck Stops Here

Jul 13, 2010

In June the New York City Council voted to approve New York City's budget for fiscal year 2011. The Mayor and the City Council should be commended for passing a budget that responsibly deals with difficult financial realities without raising taxes and by achieving recurring savings of over $1 billion in agency spending.

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Not so sweet

Jun 21, 2010

While the State and local governments struggle to pay for current salaries and fringe benefits of public employees and to fully fund the pension system for retirees - resorting to a "borrowing" scheme to stretch out required payments - the State Legislature has remained undeterred in intro

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The State and Local Pension Stretch (Updated)

Jun 17, 2010

In contrast to the dubious fiscal practices in many areas of its budget, New York's pension system for public employees has been a bright spot. Among the 50 states, New York stands out for consistently setting aside adequate funds to make its employee pension systems fiscally sound.

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Christmas Bonuses

Dec 14, 2009

Many New Yorkers feeling the effects of the recession will be tightening their belts and shortening their gift-giving lists this holiday season; but, they might find an unexpected entry on their lists. Tomorrow, thousands of retired police and firefighters will be receiving $12,000 Christmas bonuses courtesy of the City's taxpayers.

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