Pensions at NYC Sanitation Dept.

Published by in Blog, Press on June 21st, 2011

It is frightening when numbers are added to a particular theoretical problem. And let’s understand that this is merely the tip of iceberg. It makes you fear what you would uncover elsewhere in city government.

While people blame Bloomberg for not cleaning up the streets after the snow storm, Nicole Gelinas wrote a great piece in City Journal about the real problem. Check out the excerpt:

“Nine years ago, taxpayers contributed about $10.5 million annually to support sanitation pensions; this year, they’ll cost $240 million—a more than twentyfold increase (the final number may be lower, though, as some changes to the pension funds, which push up contribution rates, may not go into effect until next year).

“When he took office in 2002, Gotham spent $1.3 billion annually on the Department of Sanitation. Today, the city spends more than $2.2 billion on “New York’s Strongest.”

Read the full article here: http://www.city-journal.org/2011/eon0104ng.html

 

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