Sentences with phrase «state pension costs»

This wouldn't be a problem if state pension costs didn't now constitute # 40 billion of extra spending in today's prices.

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.

He followed up those comments by suggesting that the state pension costs were not in crisis as the Cuomo administration has claimed.

Many schools plan to add new student programs and services next year, aided by millions of dollars in fresh financial assistance from Albany, as well as reductions in state pension costs.

As the Institute for Fiscal Studies has pointed out, the prime minister's decision means the state pension cost to taxpayers is likely to rise from # 60 billion to around # 75 billion.

Not exact matches

As pension costs have tripled in the past five years, states have struggled to find somewhere in the budget to make up the difference between what they have promised to future retirees, and what the books are showing.

According to Custom Products» report, the state pension is 780,000 yen ($ 6,885) per year, but the cost of living is actually about 1,003,000 yen per year ($ 8,854), making it nearly impossible to get by on the pension alone.

He plans to make a $ 681 million payment to the state's pension funds, which will cover the costs of benefits earned by active employees during the year.

In short, because they pool longevity risk, can offer a well - diversified portfolio with longer - term investments, and are professionally managed, public pension funds deliver the same level of benefits as DC plans at only 46 percent of the cost.15 Any funds invested with the state pension fund would be kept in a separate investment pool from public sector funds.

States, through their employee pension plans, sponsor excellent financial institutions that, on a not - for - profit basis, get the highest returns for the least cost.

Important factors that may affect the Company's business and operations and that may cause actual results to differ materially from those in the forward - looking statements include, but are not limited to, operating in a highly competitive industry; changes in the retail landscape or the loss of key retail customers; the Company's ability to maintain, extend and expand its reputation and brand image; the impacts of the Company's international operations; the Company's ability to leverage its brand value; the Company's ability to predict, identify and interpret changes in consumer preferences and demand; the Company's ability to drive revenue growth in its key product categories, increase its market share, or add products; an impairment of the carrying value of goodwill or other indefinite - lived intangible assets; volatility in commodity, energy and other input costs; changes in the Company's management team or other key personnel; the Company's ability to realize the anticipated benefits from its cost savings initiatives; changes in relationships with significant customers and suppliers; the execution of the Company's international expansion strategy; tax law changes or interpretations; legal claims or other regulatory enforcement actions; product recalls or product liability claims; unanticipated business disruptions; the Company's ability to complete or realize the benefits from potential and completed acquisitions, alliances, divestitures or joint ventures; economic and political conditions in the United States and in various other nations in which we operate; the volatility of capital markets; increased pension, labor and people - related expenses; volatility in the market value of all or a portion of the derivatives we use; exchange rate fluctuations; risks associated with information technology and systems, including service interruptions, misappropriation of data or breaches of security; the Company's ability to protect intellectual property rights; impacts of natural events in the locations in which we or the Company's customers, suppliers or regulators operate; the Company's indebtedness and ability to pay such indebtedness; the Company's ownership structure; the impact of future sales of its common stock in the public markets; the Company's ability to continue to pay a regular dividend; changes in laws and regulations; restatements of the Company's consolidated financial statements; and other factors.

As the state is struggling to pay pension costs and balance the budget, new statistics show that the top 10 retired state employees are all receiving more than $ 225,000 per year from the state.

The estimate is based on 2010 financial data and doesn't reflect the stock market's recent rebound or moves by many U.S. states to rein in pension costs.

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.

The state has already been saddled with skyrocketing pension costs by the Illinois Supreme Court.

Palatine homeowners will see higher property tax bills in order to pay for higher local pension costs, as well as a dip in state funding.

With state and local governments trying to find cost savings to deal with pension issues, it's hard to figure out why Congress eliminated this.

But to the extent that it ignores the finger Lincoln points at the Civil War — to the extent that it forgets the decimation of a generation of young Americans at the beginnings of manhood; to the extent that it forgets the windrows of corpses at Shiloh, the odor of death in the Wilderness, the walking skeletons of Andersonville, 623,000 dead all told, not to mention the interminable list of those crippled, orphaned, and widowed whose pensions became the single largest bill paid by the federal government for the following half - century; to the extent that it ignores how the war cost the United States $ 6.6 billion, rocketed the national debt from $ 65 million to $ 2.7 billion, retarded commodity growth for the next thirty years, and devalued its currency — then the call for reparations opens itself up to a charge of willful forgetfulness so massive that resentment, anger, and bitterness, rather than justice, will (I fear) be its real legacy.

Former Suffolk Conservative chairman Edward Walsh, recently convicted on federal corruption charges, has failed to qualify for an immediate state pension in a ruling that could cost the former corrections lieutenant thousands of dollars in lost benefits.

Two days after the Times reported a tenative deal between legislative leaders and Gov. David Paterson to allow the state and municipalities to borrow from the pension fund to pay pension costs, Comptroller Tom DiNapoli has issued a harshly - worded statement insisting he'll protect the fund from raids «under any circumstances.»

Edwards has blamed Albany for much of his county's fiscal woes, noting everything from Medicaid costs to state pension fund contributions are going up.

Cuomo has long sought to consolidate and scale back the size of local governments in New York, which he has blamed for the state's high property taxes — an assertion budget watchdogs say is more tied to the cost of programs like Medicaid or employee pensions.

More than 90 pension - and benefit - sweetener bills have been introduced in the state Legislature that could cost state and local governments at least $ 200 million.

Astorino will also propose that new lawmakers be required to join a «defined contribution plan,» as opposed to the current «defined benefit plan,» for future pension benefits, a move that will reduce the state's long - term pension costs.

The bill allowing all veterans to buy added pension time was vetoed by Cuomo last year because, notwithstanding a clause in the governor's Tier 6 pension reform, it failed to appropriate money to cover the projected state and local government share of the «past service» catch - up cost of the measure.

Cuomo vetoed the pension sweeteners as a group, saying they would collectively «require the State and its localities to pay an estimated $ 15 million in one - time expenditures and would impose recurring annual costs estimated at $ 7.8 million.»

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.

Cuomo began with a round - up of the state's grave fiscal problems, including high unemployment, «exploding» pension costs and expenses that far outpace revenue.

New York has been far ahead of other states in compressing the cost of pension benefits by creating multiple tiers of pension benefits.

As the State University's Rockefeller Institute pointed out in 2014, pension - fund managers and trustees have been embracing «potentially destructive myths and misunderstanding» about the true costs and risks associated with their promises.

Superintendents are lobbying state lawmakers for permission to establish local reserve funds that would cover future increases in pension costs.

I can see why state and federal governments are being killed by pension costs.

Paterson's secretary, Larry Schwartz, and NYC OTB President Greg Rayburn held a conference call earlier today to reiterate that the cash - strapped betting operation will shut down if the Legislature doesn't approve its restructuring plan, costing thousands of jobs and leaving the state on the hook for $ 540 million worth of pension liabilities and $ 100 million in outstanding bankruptcy claims.

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.

Gov. Andrew Cuomo has pushed to reduce the cost of state's public pension system by successfully advocating for a new retirement level, Tier Six.

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.

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.

Mr. de Blasio — typically a staunch supporter of unions who has in the past enjoyed a fairly chummy relationship with the UFA after he protested firehouse closures as a councilman — has opposed reversing Mr. Paterson's veto, citing the potentially high costs of a bill sponsored in the State Senate and Assembly that would restore parity to the pension system.

The morning after lawmakers approved a new, cost - saving pension tier for yet - to - be-hired state workers, much of official Albany was sleeping in following the marathon overnight session of debates and votes.

My goal as County Legislator is to make a difference in the long - term financial sustainability of our community, by bringing an independent voice to our County Legislature to stop reckless spending while lobbying our State for needed reduction in healthcare cost, pension reform and mandate relief».

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.

The Educational Conference Board, a coalition of school boards, teachers unions, and school administrators, say the state's schools need and additional $ 1.5 billion next year just to keep up with rising costs like health insurance premiums and pensions.

Cuomo and other state officials acknowledged this predicament and omitted a few costs, like a portion of escalating pension bills, from counting against the 2 percent ceiling.

The panel blames spiraling pension costs and sales tax revenue surprisingly among the lowest in the state.

The Educational Conference Board, a coalition of school boards, teachers unions and school administrators, said the state's schools need an additional $ 1.5 billion next year just to keep up with rising costs like health insurance premiums and pensions.

McKinney says he would re-open contracts and seek concessions from state employees to make pension and health care costs more affordable.

He wants to limit state spending to available resources, address unfunded pension costs, focus on paying for core services and reform the budgeting process by not waiting until the final days to pass a new tax - and - spending plan.

Towns with deep pockets can hire more teachers and pay them better all while the state picks up the pension costs.

To take one example, the cost of pensions and health benefits for active and retired state employees will increase to $ 6.2 billion in 2013 - 14 from $ 1.3 billion in 1998 - 99.

Newsday has assembled a database of pension costs that reveals what public agencies on Long Island pay into three state pension systems - the Employees» Retirement System, the Police and Fire Retirement System, and the Teachers» Retirement System.