October 23, 2008
Pension costs soar
New York State and its local governments are paying nearly 10 times more for public employee pensions than they did eight years ago, reports NY Fiscal Watch.
Under the state Constitution, pension benefits cannot be reduced for retirees or current employees. With the stock market drop reducing the value of pension fund assets, governments likely will pay even higher pension costs in the future.
« Previous |
Main
| Next »
|
