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Pensions & Benefits
An Expensive Pension Enhancement Bill is on the Move
June 08, 2014
About the bill to increase disability pension benefits for police officers hired after July 1, 2009, when a more financially sustainable “Tier III” plan went into effect.
Blog
Pensions & Benefits
Giving Credit Where It’s Due? New York City’s $1.3 Billion in Health Insurance Savings
December 28, 2014
In its recent mid-year budget modification the de Blasio administration credited a coalition of municipal employee unions with achieving $1.3 billion in savings in the City’s employee and retiree health insurance costs. Yet the unions have not agreed to any changes in the plan, and the City and the unions have taken no actions to reduce costs. How can this be?
Blog
Pensions & Benefits
Big Decisions Before Albany Do Not Deter Sweeteners
June 09, 2015
Tracking bills enhancing benefits for public employees introduced in the 2015 Legislative Session
Blog
Pensions & Benefits
LIRR Pension Fraud Could Happen Again
August 04, 2014
Summarizes findings from a GAO report indicating the federal agency administering disability pensions for those workers had not done enough to prevent a repeat of a widespread fraud scheme by LIRR employees uncovered in 2008.
Blog
Economic Development
Economic Development Bigger in State Budget, But Benefits Unclear
April 15, 2015
Since 2011 New York leaders have restrained growth in the state’s operating budget; in contrast, the scale and scope of questionable economic development programs continue to be expanded significantly. In 2014 state and local spending for these activities totaled $8 billion.
Blog
City Budget
The Cost of More Cops: A Full Accounting
August 03, 2015
Police officers have a greater budget impact than most other City employees: what's the cost of 1,300 new cops?
Blog
Pensions & Benefits
An End to Business As Usual
April 10, 2011
CBC calls for an end to “business as usual:” the relentless introduction of pension sweeteners.
Blog
City Budget
New York City’s Adopted Budget: Missed Opportunities
July 05, 2011
In adopting the FY2012 budget, City leaders missed the opportunity to address the big-ticket items – health insurance, pensions and debt service – whose unchecked growth will continue to dominate the budget and result in service reductions and layoffs.
Blog
State Budget
Balancing the State Budget – Halfway There, But Running Out of Gas?
December 19, 2011
The Governor should avoid more new taxes as the way to close the rest of the budget gap and instead focus on containing spending growth in Medicaid, pensions, education, and economic development.
Blog
Pensions & Benefits
School Districts Savings by Following State Practices for Employee Health Insurance
February 01, 2011
Negotiating increases in premium sharing with school employee unions would provide immediate savings and reduce future costs.
Blog
Pensions & Benefits
How Much Did New York’s 2010 Early Retirement Incentive Save?
October 25, 2011
The CBC estimates that early retirement incentives saved taxpayers $681 million savings- less than would have been saved if the Governor had been able to achieve through layoffs.
Blog
Pensions & Benefits
The Case Against Tapping the Health Insurance Premium Stabilization Fund
June 14, 2011
Diverting money from the Health Insurance Premium Stabilization Fund may seem harmless, but it is a fiscal gimmick that only postpones the tough decisions needed to address the underlying causes of the City’s financial predicament.
Blog
Pensions & Benefits
Five Benefit Sweeteners Pass in State Legislature
June 19, 2014
Five bills on CBC’s Benefit Sweetener Scorecard have passed both houses of the State Legislature in 2014. These bills are highlighted in red on the Scorecard.
Blog
Pensions & Benefits
Benefit Sweeteners on the Move in State Legislature
June 15, 2014
Last week five bills on CBC’s Benefit Sweetener Scorecard passed one house of the State Legislature. The most expensive bill (A7862/S5644) was passed in the Senate and would increase pension benefits for SUNY police officers to half-pay after 25 years.
Blog
Pensions & Benefits
New York Should Stop Borrowing from its Pension Funds
February 25, 2015
Governor Andrew Cuomo’s Executive Budget for FY2016 proposes to borrow an additional $1.8 billion from public employee pension funds in coming years. This proposal adds to taxpayers’ long-run costs and risks weakening the fiscal condition of the funds.
Blog
State Budget
Budget Proposals with a Big Long-Term Payoff
March 16, 2017
The NYS FY2018 Executive Budget includes three proposals to reduce the State’s cost of providing retiree health insurance. Budget savings would be modest, but the reduction in the OPEB liability would be significant.
Blog
Education
Fringe Benefits Pushed New York Education Spending Higher in 2013
June 22, 2015
High levels of school spending in NY largely reflected the relatively high cost of employee compensation.
Blog
Pensions & Benefits
New York City Is Not Alone
November 16, 2011
Reducing the pensions funds' investment target to 7% would be prudent in order to keep the City’s pension funds fully funded, and it would be consistent with changes that have been adopted by other large public pension systems.
Blog
Public Workforce
City Government Needs to Attract Younger Workers
February 18, 2014
City leaders need to think boldly about how best to reconfigure the City’s compensation and hiring practices to attract a young and skilled workforce in coming years.
Blog
Public Workforce
Another Good Idea to Save the City Money
October 27, 2011
The New York City union welfare funds could also use some "depoliticizing, professionalizing and streamlining."