Sentences with phrase «rising pension costs»

It is also facing rising pension costs and a shrinking tax base.

Cities and states faced with rising pension costs have begun to search for the most effective way to balance retirement promises made to workers with the need for fiscal sustainability and employer flexibility.

In response to the sharply rising pension costs, some states have increased the required contribution from teachers.

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.

Within the education field, some cities faced with rising pension costs are already laying off teachers and freezing salaries.

Both Gov. Andrew M. Cuomo and his predecessor, David A. Paterson, dealt with the problem of rising pension costs by pushing systematic changes through the legislature, including hikes in the amounts of money that teachers and other pension plan participants must contribute from their paychecks.

Earlier this month, The New York Times ran a story called «Higher Education in Illinois Is Dying» and cited rising pension costs as a major factor in the state's budget woes.

Mr. Cuomo's budget proposal would let municipalities and school districts address rising pension costs by borrowing more now — which will mean paying more later on, as interest rates, now at historic lows, are sure to rise.

Never mind that police and fire pensions are the biggest driver of rising pension costs for NYC.

School Boards Association Executive Director Tim Kremer on Governor Cuomo's veto of a bill that would have let school districts borrow more than a billion dollars to help cover rising pension costs.

In Nassau, one of the wealthiest counties in the country, which despite its high property tax rate faces a state takeover of its finances, addressing rising pension costs is critical.

On Friday, The New York Times ran a story called «Higher Education in Illinois Is Dying» and cited rising pension costs as a major factor in the state's budget woes.

Aldeman: Recently there have been some high - profile cases of cities declaring bankruptcy in part from rising pension costs: Detroit, Californian cities like Vallejo, Stockton, and San Bernardino, as well as cities in Alabama and Rhode Island.

Our sober policy analyses have attemped to raise the alarm about how rising pension costs are affecting teachers and students, but perhaps nothing presents it in starker fashion than seeing the potential cuts to school district services.

Some local governments say these were the final steps before bankruptcy as they struggle to pay rising pension costs, payrolls and more on a shrinking and overburdened tax base.

They are a pastel symbol of Easter joy, but behind the wax - eyed candy is a company at war with its union workforce over rising pension costs - an escalating legal tangle that could soon upend the retirement plans of 10 million Americans.

«For years rising pension costs have spelled disaster for local governments across the state.

As things now stand, rising pension costs threaten to starve public services at every level.

He also recognizes the financial elephant in the room, rapidly rising pension costs that are draining school district coffers as they've just received badly needed funding increases from Sacramento.

In that piece the reporters attributed the district's problems to a range of issues, including rising pension costs and cuts to state education aid, but the piece also noted that it was unclear exactly what the system owed on pensions.

California may at first look like it is increasing funding for school districts, but in reality this budget serves only to blunt the impact of rising pension costs for a year.

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.

In addition to the non-fiscal benefits attached to educational choice, the program can relieve pressure for district budgets from rising pension costs (for each one million dollars spent on the program, I estimated that the state would save almost half of that amount, while school districts would save almost $ 700,000).

We've written before about how this is a national trend, how rising pension costs are only just beginning to hit California schools, and how these trends are projected to affect Los Angeles.

Bloomberg also pointed to rising pension costs as a dire threat to the city's finances, warning it has a «ticking time bomb» on its hands.

Like most states, Nevada faces challenges with rising pension costs.

The district faces rising pension costs, vastly underfunded retiree health benefits and union pressure to raise salaries — all as declining enrollment is draining financial resources.

Increases in funding were not sufficient to cover the rising pension costs, and more and more the program had to rely on the Consolidated Revenue Fund (i.e. general taxes) to make up the shortfall.

After Puerto Rico declared a form of bankruptcy May 3, The New York Times used these words to describe the U.S. territory's fiscal woes: «borrowing to pay operating expenses, year after year»; «unable to provide its citizens effective services»; and «rising pension costs, crumbling infrastructure, departing taxpayers and credit downgrades.»

Albany's waiting for a crisis In Miner's six years as mayor, she's repeatedly called on state leaders to have a «serious discussion» about the shaky financial state of local governments - rising pension costs, shrinking property tax collections and troubled schools.

In my role on the NYSAC executive committee, I have input as to what could inhibit this goal, issues such as mandate relief, rising pension costs, Medicaid reform.

Miner said her goal was to encourage Cuomo to launch a statewide conversation — involving state and municipal leaders, unions and businesses — to seek solutions to rising pension costs and other burdens.

Executive Director Peter Baynes, in a statement, says local governments need help coping with unfunded state mandates, rising pension costs, and declining state aid.

Bloomberg said the city's financial condition is made worse because of rising pension costs.

Still, while the City of Corning is thriving compared to many others in the Southern Tier, it's not immune to the economic pressures facing local governments across upstate: a stagnant tax base, rising pension costs and a limited ability to increase revenues due to the state property tax cap.

The piece — a wonky exploration of rising pension costs and other big - city fiscal problems — concluded that Mr. Cuomo «has left cities strapped.»

That's true for all public services, but higher education is uniquely harmed by rising pension costs.

A report like CAP's that looks only at teacher salaries would not see things like this, but rising pension costs are a significant factor keeping salaries flat.

That low number may mask the difficulties many districts will face amid flattening revenues, rising pension costs and, for many, declining enrollments.

But one poorly understood aspect of rising retention rates is that they also lead to rising 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 (3) Cities have few options to address growing pension liabilities.

The person who gets the job will have to confront the Los Angeles Unified School District's rising pension costs, vastly underfunded retiree health benefits and declining student enrollment, which could push the nation's second - largest school system toward financial crisis.

Instead the story makes a passing reference to rising pension costs and pins the rest of the blame on cuts to state aid.

The Times story makes a passing reference to rising pension costs, though not a bit about what they amount to.

When the California School Boards Association surveyed its members earlier this year, the group found that rising pension costs have already led about half of them to cut programs to help balance their budgets.

Rising pension costs are a particular concern for school districts, whose dollars help prop up state retirement plans that often have substantial unfunded liabilities.

«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-...]

Because of rising pension costs, Louisiana's school districts have already made noticeable cuts to their expenditures on instructional programs, textbooks and other school supplies, and special education services.

Due in large part to rising pension costs, the state has also cut the value of the retirement benefits it offers its teachers.