Sentences with phrase «state pension money»
He pleaded guilty in October to accepting campaign contributions and free travel in exchange for investing state pension money with a certain firm.
http://www.nystateofpolitics.com/ Not exact matches
Most of that money was raised from funds of funds and pension funds in the United States.
Illinois» move earlier this year to withhold state money from cities over pension underfunding has raised a red flag that the practice could endanger bond payments.
[13] «Capitalism in the United States is now in a new stage, money manager capitalism, in which the proximate owners of a vast proportion of financial instruments are mutual and pension funds.
Keep in mind, some of these states will get their money elsewhere — like sales or property taxes — but when you're a retiree, it's good to know how much of your retirement fund or pension you'll actually get.
Just some examples of the financial system in an awkward state of unease: Velocity of money has been muted, pension funds have been impaired by burdensome discount rates, insurance companies haven't been able to write business at reasonable levels and savers have been penalized.
, you would need to defer your relative's pension by 13 years to achieve the target income floor from the state pension alone: # 3,500 * 1.104 ^ 13 = # 12,667 in today's money.
A byproduct of these overly optimistic assumptions is that states have failed to contribute enough money to the «pension piggy bank» as was necessary to pay out future benefits.
Right now in the United States we have an $ 84 trillion underfunded pension entitlement — Where is that money going to come from?
In order to pay for higher pensions pay - outs, Lord Turner recommended the amount of money the government spends on the state pension increase from 6.2 per cent of gross domestic product, as it is today, to between 7.5 and eight per cent.
This was reportedly the most money the state's educator pension system had ever required to be returned.
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.
Meanwhile, things that could address systemic problems and save the city and state real money, including public pension reform, get shouldered off the road in favor of transient quick fixes like taxes on soda and cigarettes.
I think not, like State Senator George Winner, they will be allowed to quietly retire, pardoned not by the Governor, not denied their $ 80,000 pension, never forced to give any money back to NYS, instead pardoned by Eric Schneiderman, AG!
For fiscal watchdogs, the so - called pension sweeteners can be problematic: chipping away at savings achieved in new pension tiers that were approved as a way to save the state money in the long - term.
By 1932 seventeen states had old age pension laws, although none were in the south, and 87 % of the money available under these laws were expended in only three states (California, Massachusetts and New York).
Neither pension forfeiture nor cracking down on Super PACs has anything to do with these matters, good - government advocates say, and while laudable, they shouldn't substitute for proposals that restrict the flow of campaign money or the omnipresent correlation between those who donate and benefit from favorable state actions.
Showing his law firm the state money (2006): Silver shuffles the Judiciary Committee, and a Senate - passed bill to bar pension - drawing public employees from suing their employers dies without a vote.
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.
Questions have been raised of late about political contributions made by himself and his former law firm, which made big money in pension - related legal fees, to the past three state comptrollers.
A select committee report several months later backed Ann Abrahams» call, saying the government was guilty of «maladministration» in advising people to take money that would have gone into their second state pension and place it in the private sector.
Wabba who stated that with the second tranche of the money about to be released, the government at the centre should muster the will to audit states to ensure that the first release was judiciously spent for the settlement of outstanding salaries, pension and gratuity.
Ministers will not be compensating 85,000 people who lost money contracting out their state pension, against the recommendation of the parliamentary ombudsman.
There were several red flags missed by the state comptroller's office in the run - up to the indictment of a money manager, Navnoor Kang, on bribery charges involving the pension fund.
Environmental groups expressed disappointment with DiNapoli's resolution, saying the state pension fund should pull its money out of ExxonMobil.
State taxpayers handed over another $ 877 million for the state's pension plan last year, with $ 1.3 billion in seed money expected in the next fiscal State taxpayers handed over another $ 877 million for the state's pension plan last year, with $ 1.3 billion in seed money expected in the next fiscal state's pension plan last year, with $ 1.3 billion in seed money expected in the next fiscal year.
With fully two - thirds of its money invested in domestic and foreign stocks, private equity and «absolute return strategies» (i.e., hedge funds), the New York State pension fund has a risky asset allocation profile typical of its counterparts across the country — because chasing risk is its only hope of earning 7 percent a year in a market where the most secure long - term bonds yield barely 2 percent.
Using the State Pension fund to legitimately lend the State money as an investment rather than the State issuing bonds for smoothing spending is an intelligent idea, but with the same terms and conditions as any bond issuance would have.
The disgraced public official pleaded guilty in 2010 to felony charges for accepting nearly $ 1 million in gifts for funnelling $ 250 million of the state's public pension money to a particular private equity fund.
Cuomo raised eyebrows and embarrassed DiNapoli as he announced a series of multimillion - dollar settlements in the state pension - fund scandal and then disclosed that his office was looking into the comptroller's role in meeting with politically connected companies seeking control over the investment of pension - fund money.
Under the government's calculations, this should allow about 10,000 people to use whatever money remains in their contracted - out pension fund to be reinstated in the second state pension scheme.
The announcement comes in response to a select committee report this summer which said the government was guilty of «maladministration» in advising people to take money that would have gone to their second state pension and place it in the private sector.
That money may be used for state education / health pension systems, or may be distributed to private institutions (either non-profit or non-profit, it depends).
The chief investment officer of the New York state pension fund doesn't like the fees hedge funds charge to manage money.
In addition, the government intends to publicise a little - used scheme that allows people who decided to take their second state pension to a private provider, but who subsequently face losing out, to get back into the state system for less money.
MANHATTAN — Mayor Michael Bloomberg painted a bleak economic picture in his annual State of the City address Wednesday as he outlined a series of contentious reforms to overhaul the pension system and rules governing teacher firing to save the city money.
Malloy has said he'll veto the Republican budget that passed the state General Assembly because it raises taxes, de-funds pensions and takes money away from struggling school districts.
Wednesday's ruling by the New York Appeals Court gives corrupt politicians like Sheldon Silver, former speaker of the Assembly, and Dean Skelos, a former state Senator, le ss wiggle room to appeal the money they have been ordered to fork over, which is based in part on both of their pensions.
Also set to be discussed at Wednesday's Rule Committee meeting, a resolution in support of state legislation to require forfeiture of pension monies for any lawmaker convicted of a felony pertaining to his or her work as an elected official.
The interviews given by leading Lib Dem MPs over the weekend suggest that their narrative at the next election will go something like this: «We have protected the poorest and most deserving by raising the personal tax allowance, providing the biggest ever increase in the state pension, and giving schools a «pupil premium» - more money for every child on free school meals.
«I think that proportionally the cuts that are inflicted on New York are an outrage,» the mayor said, adding that more layoffs will be in store unless the state passes a series of major money - saving reforms, including legislation that would allow the city to reduce its pension obligations.
The money is part of an over $ 1 billion dollar fund that uses the state pension plan monies to invest in locally based entrepreneurs who want to grow their business in the state.
DiNapoli was in Rochester Tuesday to highlight seed money investments the state employee pension fund is making in businesses across the state to help foster growth and create jobs.
Other states have offered similar private equity investment plans, using pension fund monies, but have not been successful.
DiNapoli has said the plan, which required future public employees to pay more towards their pensions and receive less in return, won't save state and local governments money in the short run.
LOS ANGELES — The chief investment officer of the New York state pension fund doesn't like the fees hedge funds charge to manage money.
The New York State Pension Fund, and the taxpayers who have to backstop it, have lost billions of dollars because Tom DiNapoli made risky investments on Wall Street in an attempt to meet an unrealistic return expectation that any private sector money manager in America — except maybe Bernie Madoff — would know is a fallacy.»
The Shadow Chancellor proposed to save money in the parliament after next by raising the state pension age more quickly.
Unlike New York City's public employee pension, which voted to exit its hedge fund portfolio, the state pension isn't planning to yank its money from hedge funds, Fuller said.
«I wish there will be a law that will state that before an actor or actress receives his or her pay, there will be some amount of money that will be deducted as tax or contribution to SSNIT so that it will serve as financial support in case they go on pension or when they need some health assistance.