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Op Ed
Pensions & Benefits
Fringe Benefits Challenge New York School Budgets
July 20, 2015
The problems facing school districts are complex, but one common challenge is the unrelenting rise in fringe benefit costs.
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
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
Pension Sweetener Scorecard – Disability Benefits Edition
June 01, 2015
Reviews 10 bills introduced to benefit recently hired New York City uniformed employees that are gaining momentum
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
City Budget
The End of The Retiree Trust Fund
July 22, 2013
Tthe Financial Control Board (FCB) certified New York City’s Adopted Budget for Fiscal Year 2014 is balanced. As the FCB mentions in its report, the 2014 budget is balanced with $2.8 billion in surplus funds from fiscal year 2013 and $1 billion withdrawn from the Retiree Health Benefits Insurance Trust Fund.
Blog
City Budget
The Giant Slice: Legacy Costs in the New York City Budget
May 09, 2013
“Legacy costs” will claim almost 25 percent of the budget by fiscal year 2015 – leaving fewer dollars for other budget priorities.
Op Ed
Pensions & Benefits
Reining in New York City's Skyrocketing Health Insurance Costs
April 17, 2013
The City's employee unions, whose contracts have expired, may prefer to wait and negotiate with the next mayor, but the election won't change the fiscal reality: the City's share of health insurance premiums for city workers and retirees is high in comparison to norms in the private and public sectors.
Blog
Pensions & Benefits
A Busy Day in Albany
February 19, 2013
Eight bills introduced in the NYS Assembly enhance pension benefits of public employees and retirees. These bills would add at least $1.35 billion in costs to State and local employers.
Op Ed
Public Workforce
City Workers, Pay Your Share
February 03, 2013
The cost of health insurance for New York City public employees and retirees is projected to grow by almost 40% by 2016 — rising to nearly $7 billion a year. That growth will amount to $1.5 billion of the $1.9 billion budget deficit projected for 2016.
Op Ed
State Budget
Albany Handcuffs New York’s Cities
July 04, 2012
Local governments in New York are under serious and growing fiscal pressure, and the Legislature isn’t doing enough to ease the burden. Unfortunately, the Legislature seems oblivious.
Blog
City Budget
Restoring City Priorities Along With Spending Cuts
June 21, 2012
The Mayor and City Council's “budget dance” focuses largely on child care slots and after-school programs, but should really be about the City’s overly generous contributions to the health insurance of former City employees and their spouses.
Op Ed
Pensions & Benefits
Sneak Labor Giveaway
May 05, 2012
Across New York, the cost of health benefits for retired government employees is growing so rapidly that it threatens to crowd out funding for essential government services. Rather than lay off police or close libraries, public officials may want to use their discretion to alter retiree health insurance — but some state legislators are trying to take away that discretion.
Blog
Pensions & Benefits
The Next Challenge: Retiree Health Benefits
April 16, 2012
Pension reform, done. Next up, retiree health insurance and OPEB.
Op Ed
Pensions & Benefits
New York State’s Pension Plan
March 12, 2012
Deferrals of pension fund contributions by New York State and localities relies on unconvincing arguments by the State Comptroller that the plan is justified by the need for short-term relief from rising pension costs and that it is transparent.
Blog
Pensions & Benefits
Pension Reform: Firefighters Will Not Be Running Into Burning Buildings at Age 65
March 06, 2012
Debunks misconception that "Tier VI" proposal would have employees whose duties require certain physical capacities to work until age 65.
Op Ed
Pensions & Benefits
Cuomo’s Reforms Are Perfectly Fair
February 21, 2012
Gov. Cuomo’s proposed “Tier VI” pension formula for future state and local government employees is more than fair by national standards. With New Yorkers now paying more than twice the US average per person for public-employee pensions, it’s time to rein in these costs.
Blog
Pensions & Benefits
A Reasonable Proposal: Sharing More of the Cost of Public Sector Pensions with Employees
February 15, 2012
Increasing the employee contribution rate for public pensions in New York State is not unreasonable. Comparisons with nationwide norms show proposal would move New York toward the middle of the pack among states.
Blog
Pensions & Benefits
NY Retirement Systems: Still Out of Line
January 25, 2012
NY requires unusally low rates of employee contribution -- meaning taxpayers largely shoulder the cost of providing pensions, which has grown sharply over the last decade.
Blog
Pensions & Benefits
A More Flexible Pension Plan
January 25, 2012
Part of Governor Andrew Cuomo’s “Tier VI” proposal to make pension benefits for public employees of New York’s State and local government more affordable and sustainable over the long term is an optional 401(k)-style plan, already used widely in the private sector and becoming more common in the public sector.