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To: T.B. Yoits

“New York Governor Kathy Hochul, like many of these other Democrat governors, have a directive to get state employees off the payroll due to the unfunded pension liabilities.”

You don’t have a clue, do you? The New York State and Local Retirement System is fully funded, it does NOT rely on tax money to pay pensions. The fund has so many billions of dollars that are actually invested that it is solvent. NY State constitution does not allow the Govt. to touch it. Oh, the politicians look at it and salivate, but so far they haven’t figured out a way to get their hands on it.


86 posted on 09/27/2021 1:29:11 PM PDT by Nik Naym (It's not my fault... I have compulsive smart-ass disorder. )
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To: Nik Naym
You don’t have a clue, do you? The New York State and Local Retirement System is fully funded, it does NOT rely on tax money to pay pensions. The fund has so many billions of dollars that are actually invested that it is solvent. NY State constitution does not allow the Govt. to touch it.

I must not have a clue: "A new national study estimates that New York’s two largest state-level pension systems have unfunded liabilities of at least $260 billion...
https://www.empirecenter.org/publications/nys-pension-hole-much-deeper-than-you-may-think/

92 posted on 09/27/2021 1:34:01 PM PDT by T.B. Yoits
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