NYC Government Publication
New York City Independent Budget Office - Inside the Budget #156 How Much Will the Proposed Early-Retiremnt Bill Cost the City?
The legislature in Albany is currently considering a bill that would allow certain public emploees to retire at age 55 rather than 62 without a loss in pension benefits. IBO estimates that the bill would increase the city's pension and fringe benefit costs by $68.1 million in the first year after accounting for savings from hiring entry-level replacements.
- Agency
- Subject
- Report type
- Budget Report
- Date published
- 2008-06-18