Pensions

The “Unfunded Mandate” Gig. What Would Real Government Reform in NY Look Like?

June 7, 2012 Administration

As they do from time-to-time, all over New York, county officials are screaming about “unfunded mandates.” Candidates for the State Legislature are touting reforming “unfunded mandates” as an essential part of their platform. Even aside from the funded unmandates (read that carefully) of county nursing homes that so many still wish to maintain and some […]

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Doubling Down on Public Pension Investments

April 2, 2012 Budget

Pension costs going up faster than revenue? You have three choices: Raise taxes, cut spending on other items and pay more into your pension reserve. Those are certainly not politically attractive options, but as often as not, these are the options for grown-ups. Reduce pension liabilities by reducing pensions promised. These are politically ugly options, […]

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The Shin Bone’s Connected to the Thigh Bone

December 7, 2011 Business

My friend and colleague, Tim Maniccia, who runs Policy Innovation, noted some interesting connections yesterday. What triggered Tim’s observations was the bankruptcy of American Airlines. The first thing he noted was that American’s four pension plans cover almost 130,000 participants, but they have only $8.3 billion in assets to cover $18.5 billion in benefits. Were […]

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