Over the last century, states have adopted the idea that pensions are a form of deferred compensation and, along with that change, has come certain protections.
Without a strategy to rein in costs for its police and fire departments, the city faces the possibility of having to dedicate 100 percent of its property taxes to fund the pensions and not totally address the problem.
New Yorkers will soon provide up to $100 million in public financing to help fund candidates’ campaigns, but exactly how the landmark reform legislation will be implemented is up to a special commission.