IPFS News Link • TAXES: Local
City taxpayers foot 90% of municipal pensions
• NY PostTaxpayers kick in an average $8.60 for every dollar that city employees contribute to their pensions, a sweet deal costing the Big Apple a bundle.
Even though their own retirements are less secure, as private businesses have shifted from traditional pensions to riskier savings plans like 401(k)s, taxpayers' support for rock-solid public employee pension plans is growing.
Even though their own retirements are less secure, as private businesses have shifted from traditional pensions to riskier savings plans like 401(k)s, taxpayers' support for rock-solid public employee pension plans is growing.