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Showing 1 - 13 of 13
Blog
Economic Development
Should New York's REDCs REDO Their Plans?
December 06, 2016
After 5 years, CBC reviews regional job creation results by industry, and the lackluster results suggest it is time to rethink the strategic plans of the REDCs.
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
Legislature Introduces Even More Benefit Sweeteners
May 18, 2016
The State Legislature has introduced 8 new bills to enhance the benefits of State and local public employees and retirees in the 2016 session.
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.
Blog
Pensions & Benefits
Simple But Significant
Savings from the Elimination of the Medicare Part B Reimbursement
December 19, 2010
As New York’s elected officials consider options for balancing budgets in the face of record deficits, they should eliminate a public employee fringe benefit rarely offered anywhere else: reimbursement for Medicare Part B premiums.
Blog
Pensions & Benefits
What is OPEB and Why Does it Cost $9.4 Billion?
December 05, 2010
The true cost of retiree health insurance and "other postemployment benefits," or OPEB, was $9.4 billion in fiscal year 2010. Why it cost so much and what should be done about it.
Blog
Pensions & Benefits
Not so sweet
June 20, 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 introducing and acting upon bills that would add even more costs in the 2010 session.
Blog
Pensions & Benefits
The State and Local Pension Stretch
June 16, 2010
New York stands out for consistently setting aside adequate funds to make its employee pension systems fiscally sound, but political leaders are considering heading down a fiscally irresponsible path.
Blog
Public Workforce
The Public and Private Sector Wage Disparity: An Update
May 24, 2010
The labor market case for more generous retirement benefits for public sector workers is no longer valid.
Blog
Economic Development
End the Empire Zones Program and Adopt Excelsior
March 24, 2010
Explains why Empire Zones were ineffective and argues in favor of the improved features of Excelsior tax credits.
Blog
Pensions & Benefits
Christmas Bonuses
January 20, 2010
Each December, some NYC uniformed retirees receive a "variable supplement fund" payment in addition to their pensions.