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Podcast episode Pensions & Benefits

Episode 17 - $95 billion

October 25, 2017
This episode's datapoint is $95 billion, the current value of all of the future retiree benefits, except pensions, already earned by current retirees and employees of NYC. This amount, referred to as OPEB, or 'Other Post-Employment Benefits,' is primarily the cost of health insurance for NYC employees, their spouses and families. Special guest Dr. Thad Calabrese of NYU, and author of CBC's latest report on this subject, "The Price of Promises Made," gives an in-depth look at the City's OPEB obligations, compare them to those of other cities around the country, and explains why the City should establish more appropriate benefits and funding arrangements.
Podcast episode Pensions & Benefits

Episode 7 - 2008

August 03, 2017
This week's datapoint is 2008 - the year in which NYC's economy entered the Great Recession. Special guest John Breit, former chief risk advisor to Merrill Lynch, shares with us his unique perspective on the recession and on the risks of the City's investments in the pension funds.
Letter State Budget

Recommendations on the FY 2017 Executive Budget

February 25, 2016
CBC offers recommendations for legislative action on the Governor’s Executive Budget for fiscal year 2017. The recommendations cover four proposals that deserve support, five proposals that should be modified, and four proposals that should be rejected.
Letter Pensions & Benefits

CBC Urges the Governor to Veto a School District Borrowing Bill

July 11, 2011
CBC sent a letter to Governor Cuomo urging him to veto A6309/S4067, the bill that would allow school districts to borrow an amount equal to 125% of their required 2011 pension contributions and to repay them over 15 years.
Letter Pensions & Benefits

CBC Encourages Governor Paterson to Veto Benefit Sweeteners

July 22, 2010
The fiscal realities of the time have not deterred the Legislature from advancing dozens of bills enhancing benefits for State and local employees and retirees. Three were already sent to you for consideration this week; another will be shortly. We are writing to ask that you veto them.
Letter Pensions & Benefits

CBC Encourages Legislatures to Avoid Pension Sweetener Legislation

June 02, 2009
This letter notifies the Legislature that the CBC has issued a "Pension Sweetener Scorecard" that tracks legislative and gubernatorial actions regarding pension benefits and highlights those actions for the media and the public. These sweeteners are often enacted over the objections of elected heads of local governments and always at the expense of taxpayers.
Letter Pensions & Benefits

CBC Urges Governor Paterson to Veto Costly Mandate for Retired Teachers

May 12, 2009
This letter from the CBC urges the Governor to veto A4628, a bill that would renew the provision that prohibits school districts from reducing the health insurance benefits offered to retirees unless the changes are approved by the local teachers union.
Letter State Budget

10 Do's and Don'ts for Spending the Federal Stimulus Funds

February 25, 2009
This letter to the Legislature warns that the federal aid to New York is limited and temporary, suggests ten do’s and don’ts for using the federal funds and closing the budget gap while avoiding harmful cuts and tax increases, and highlights possible allocation of the funds.