New York City pension costs have risen more than fivefold to $8 billion since 2002 and changes to the system are needed to keep budgets in check, said a bipartisan coalition for pension reform.
The increase in pension costs has squeezed funding for other programs, New York Leaders for Pension Reform said today in an e-mailed statement. The coalition supports a plan by New York Governor Andrew Cuomo to lower pension costs in New York City [...]
