Out of Balance
A Comparison of Public and Private Employee Benefits in New York City
The Citizens Budget Commission (CBC) and the Partnership for New York City recently completed a confidential survey of large private firms in New York City to provide a basis for comparing the heath insurance and pension benefits of private sector workers with those of municipal employees. Analysis of the survey results indicates that municipal government workers have much more generous benefits. The City of New York would save about $1.4 billion annually by aligning its health insurance benefits with those of local private sector firms, and additional savings are possible from changes in pension benefits for workers hired in the future.