‘Pension’ headaches plague city
Posted by Brooklyn Young Republican Club
Source: Philip Messing / New York Post
Fat civil-servant pensions are costing taxpayers more than ever before and have led to a clarion call for reform nationwide.
For the taxpay ers of New York City, who fund five different pension funds, the need for fis cal relief prom ises to become ever more dire in the years ahead.
The Post reported in March how the city is now forking out $14.1 billion in pension, health in surance and fringe benefits — about 22 percent of its $63 million annual budget. That’s $6 billion more than a decade ago — and fiscal experts envision the city taxpayer tab will swell to $12.1 billion by 2016.
