Sentences with phrase «city pension costs»

«Key Findings» were (1) City pension costs will dramatically increase to unsustainable levels, (2) Rising pension costs will require cities to nearly double the percentage of their general fund dollars they pay to CalPERS, and -LSB-...]

«Key Findings» were (1) City pension costs will dramatically increase to unsustainable levels, (2) Rising pension costs will require cities to nearly double the percentage of their general fund dollars they pay to CalPERS, and (3) Cities have few options to address growing pension liabilities.

ALBANY - State and city pension costs are skyrocketing - and some pols running for re-election want them to go even higher.

Taxpayers» share of city pension costs has skyrocketed more than 900 percent in the last decade — from $ 703.1 million in 2000 to $ 6.5 billion in 2009, according to the city comptroller's annual reports.

Taxpayers» share of city pension costs has skyrocketed more than 900 percent in the last decade — from $ 703.1 million in 2000 to $ 6.5 billion in 2009, according to the NYC comptroller's office.

Not exact matches

Cities and villages across the state are raising taxes or implementing new ones for a variety of functions, from attracting a fast - food restaurant to catching up on rising pension costs.

Mayor Rahm Emanuel has not spoken about how the city will afford such a large hiring campaign — considering salaries and pensions it will likely cost millions.

For what it's worth, Spitzer and Bloomberg are again disagreeing — this time over the mayor's warning that NYC could very well go the way of Detroit if his successor fails to control the city's rapidly rising health care and pension costs.

Tax - funded public - pension costs for every level of state government rose from absolutely minimal levels in 2000 to a grand total of more than $ 16 billion last year, half of it in New York City alone.

With the city facing more budget cuts or even, as she suggested, «insolvency,» Miner was hoping for relief in an area where Albany is itself the prime culprit because of the exploding cost of pensions and benefits promised to public employees.

The New York City bill would have imposed roughly $ 400 million in new costs on city taxpayers in the next four years, adding billions in liabilities to an already under - funded pension sysCity bill would have imposed roughly $ 400 million in new costs on city taxpayers in the next four years, adding billions in liabilities to an already under - funded pension syscity taxpayers in the next four years, adding billions in liabilities to an already under - funded pension system.

The Mayor went on the say that what does threaten the city are rising pension and health care costs for public employees.

MIDDLETOWN — An increase in workers» compensation insurance premiums and pension costs for city employees will make it tough for Middletown to develop a 2014 budget, Mayor Joseph DeStefano said.

New York City's pension costs will reach nearly $ 8.8 billion in the coming 2016 fiscal year — more than double the 2006 level and nearly eight times the 2001 amount.

The pension liabilities for New York state and New York City have been kept in check over the years by hiking contributions, but increasing costs could place pressure on future budgets, according to report released this week by Moody's.

They've clashed over city contracts, teacher layoffs, and pension costs, and Bloomberg's team thinks that Liu is basically using City Hall as a foil to make himself look good for a 2013 mayoral city contracts, teacher layoffs, and pension costs, and Bloomberg's team thinks that Liu is basically using City Hall as a foil to make himself look good for a 2013 mayoral City Hall as a foil to make himself look good for a 2013 mayoral run.

Syracuse, NY - Mayor Stephanie Miner made her boldest statement yet against the popular Democratic Gov. Andrew Cuomo when she said his plan to help cities with pension costs was an accounting gimmick and that the state lacks leadership.

Mayor Bloomberg and controller John Liu have very different opinions about the city's future pension costs.

Many of the city's expenses — like health care, pension costs and debt service — are difficult to control, Walsh said.

Excess taxation — an 8.97 percent state income tax rate, 12.62 percent in New York City — along with over-regulation and exorbitant government pension costs, have made New York one of the least economically competitive states in America.

«Things should improve,» said Liu, whose study suggests that pension costs, which currently make up 11 % of the city's budget, will drop to between 5 % and 6 % in five years.

Last week in a hearing before state lawmakers, Syracuse Mayor Stephanie Miner said pension costs are among those expenditure lines that the city has no control over, and is one of the reasons why the city's financial picture looks bleak.

My city's pension costs have increased significantly in the past decade, so you might expect me to support the 401 (k)- style retirement plan now under consideration in New York.

While acknowledging pension costs would remain high in the immediate future, the city controller suggested they would start to get better by 2016, at which point Liu himself could be in power at City Hcity controller suggested they would start to get better by 2016, at which point Liu himself could be in power at City HCity Hall.

The city's budget comes due in the summer, but Miner already has said the city will run out of money in the next few years — even without the tax cap — because of sharply rising pension and health care costs.

The Empire Center for Public Policy, a think tank that tracks public pension costs, said Silver's pension may be as high as $ 98,000 if additional factors such as his pre-Albany experience as a New York City Civil Court clerk and other service credits are included.

Deputy Mayor Stephen Goldsmith blamed the cuts squarely on skyrocketing pension costs, which have forced the city to up the pension allocation by a billion dollars to $ 8.3 billion in 2012.

To combat ballooning pension costs a few years ago, Cuomo offered cities like Syracuse the ability to finance pension costs to push part of those high costs into the future.

In 2013, she wrote an op - ed for the New York Times in which she criticized Cuomo for suggesting cities borrow money to address rising state pension costs.

City residents might not yet have felt the impact of the fiscal problems, she said, but they soon will if a solution is not found for unmanageable costs such as health care and pensions.

* The 62 - year - old Mayor will continue efforts to persuade Governor Cuomo to veto a bill that would raise pension benefits for some retired city employees and cost the city about $ 100 million a year.

«This reflects the dire fiscal circumstances the city faces, the devastating impact of increasing pension costs and the desperate need for aggressive reforms,» said Marc La Vorgna, a mayoral spokesman.

Towns, cities, counties and other local governments will see another year of sharply rising pension costs to make up for the previous shortfalls created by the recession.

SYRACUSE, N.Y. — Pension smoothing would cost Syracuse at least $ 124 million in extra pension payments over the next 25 years, according to an analysis prepared by the city budget depaPension smoothing would cost Syracuse at least $ 124 million in extra pension payments over the next 25 years, according to an analysis prepared by the city budget depapension payments over the next 25 years, according to an analysis prepared by the city budget department.

The distinction in disability pensions was created by former governor David Paterson as a cost - saving measure in 2009, and has become a flashpoint in a broader feud between de Blasio and the city's police and fire unions — one that Cuomo has seized on as he and the mayor fight over a host of other issues.

Indeed, pension costs are now projected to eat up one of every eight city dollars next year, in contrast to 1 in 28 when he took office in 2002.

A fight over disability pension benefits escalated on Friday, with the de Blasio administration defending its proposal and police and fire unions and members of the City Council claiming it short - changes uniformed workers, forcing them to choose between a better line - of - duty pension or a higher cost - of - living increase after retirement.

The report claimed a 2010 study done by the city Independent Budget Office severely under - counted the full value and liability of pension and retiree health costs of the district public schools.

Rochester Mayor Tom Richards, Monroe County Executive Maggie Brooks, New York City Mayor Mike Bloomberg and mayors and county leaders from around the state came to the state Capitol to support Governor Andrew Cuomo's push for pension reform, saying they are «crashing and burning» under the rising costs.

The audit is in response to a June pension reform ballot measure that the city's mayor is pushing to ease the growing costs of employee retirement.

«Net investment losses» by the five city pension funds get the blame for $ 15.2 billion in added costs, or about 48 percent of the total increase over the 10 - year period.

One key point of agreement for Republicans in the House and Senate is that they reject Gov. Dannel P. Malloy's plan to shift $ 400 million a year in teacher pension fund costs to cities and towns.

Democrats and Republicans said earlier this year that zeroing out education aid and shifting the $ 400 million pension costs to cities and towns were not proposals that would get through the General Assembly.

About a year ago, she openly Cuomo's plan to postpone pension costs for cities a «gimmick» on the op - ed page of The New York Times.

George Pataki and the state Legislature approved public - pension sweeteners that drove nearly $ 13 billion in cumulative pension cost increases for the city from 2000 to 2010.

The cap keeps taxes from rising as municipalities and school districts struggle with soaring pension costs, but the law doesn't cut property taxes, which Cuomo said Tuesday are «a crusher,» especially for homeowners in New York City's northern suburbs and upstate.

Exploding health care and pension costs, among other problems, are beyond the city's control but have an increasingly oppressive effect on municipal finances.

Cuomo, who is spearheading a drive for government consolidation, has repeatedly rejected Miner's assertions that the state should help Syracuse and other cities pay for state - mandated costs, such as pensions.

«This was a false choice... a deeply flawed and severely limited minimum wage bill that never would have passed in exchange for a fiscally reckless pension bill that would have cost New York City taxpayers $ 6 billion,» mayoral spokeswoman Karen Hinton said.

The pension change would cost the city an estimated $ 5 billion over 30 years.