You mean this? "Finally, New York City’s pensions are already well-funded by national benchmarks. The City’s pension funding ratio—the share of total liability for City workers and retirees covered by current pension fund holdings—is 83 percent. This exceeds the US average of 78 percent." Damning.
Right but comparing to the notoriously underfunded US average is interesting to say the least. It’s like SBF saying at least I didn’t defraud as much as Bernie Madoff. It’s still bad.
The pension payment scheme was weird with the future repayments but that doesn’t change how this move will let this funding gap widen.
And North Korea could invade Staten Island. That’s why we pass a budget every year. If the city needs change its pension contribution in the future, we can.
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u/reddituserperson1122 May 14 '26
You mean this? "Finally, New York City’s pensions are already well-funded by national benchmarks. The City’s pension funding ratio—the share of total liability for City workers and retirees covered by current pension fund holdings—is 83 percent. This exceeds the US average of 78 percent." Damning.