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Op Ed Pensions & Benefits

Pension sweeteners a bitter prospect for New York City

June 15, 2018
The City Council adopted a budget for fiscal year 2019 that totals almost $90 billion. Almost $10 billion will be devoted to pensions for public employees, and the amount is projected to grow. And yet, for some, this is not enough.
Blog Pensions & Benefits

Bitter Truth

June 06, 2018
To date the New York State Legislature has introduced 138 bills in this session that enhance the benefits of state and local public employees. How much these bills could cost taxpayers is unknown.
Report Pensions & Benefits

2018 Benefit Sweetener Scorecard

May 18, 2018
The balance of this year's legislative session will be devoted to moving bills through the legislative process, including proposals to enhance the benefits of State and local public employees and retirees.
Blog Pensions & Benefits

Four Egregious Benefit Enhancement Bills

May 18, 2018
The 135 active bills identified on the Citizens Budget Commission’s 2018 Benefit Sweetener Scorecard this session could cost the State and local governments at least $428 million.
Report Pensions & Benefits

2018 Benefit Sweetener Scorecard

April 12, 2018
With negotiations completed and a State Budget enacted, the balance of this year’s legislative session will be devoted to moving bills through the legislative process, including proposals to enhance the benefits of State and local public employees and retirees.
Report Pensions & Benefits

Union-Administered Benefit Funds

February 08, 2018
NYC taxpayers are projected to contribute $1.1 billion to 108 union-administered benefit funds. Better management, oversight, and consolidation can create more than $160 million in savings for the City and improve benefits for members.
Report Pensions & Benefits

An Expensive and Risky Benefit

October 05, 2016
A unique feature of a tax deferred compensation plan available to NYC teachers guarantees them a 7% investment return regardless of what happens to interest rates or in the stock market.
Blog City Budget

The “20-20-20-20” Dilemma: Legacy Costs in the New York City Budget

July 22, 2016
A giant slice of the New York City budget pays for costs that are the legacy of commitments made in the past: debt service, pensions, and retiree health insurance. These legacy costs already exceed 20 percent of the budget and will expand by 20 percent to more than $20 billion in annual spending by fiscal year 2020.
Blog Pensions & Benefits

2016 Benefit Sweetener Scorecard

May 02, 2016
The Citizens Budget Commission’s 2016 Benefit Sweetener Scorecard identifies more than 60 such bills active this session. These bills could cost the State and local governments hundreds of millions of dollars per year, and since about half the bills do not specify a fiscal impact, the potential costs could be significantly greater.
Blog State Budget

Pass Governor’s Proposal to Reform State Retiree Health Insurance Benefits

March 13, 2016
State of New York retirees with more than 10 years of service receive health insurance benefits substantially more generous than those offered by private sector and most public sector employers. Governor Andrew Cuomo’s Executive Budget for FY2017 includes a fair proposal to reduce these growing costs, and the Legislature should adopt it.
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.