Pension cost increase estimates

[gorja]

Pension burden for local entitities

More than 3,400 entities provide public pensions in New York state, and data obtained from the Comptroller's Office shows a staggering increase in their current and future cost for retirees. Everything from the local library to major medical centers are being whacked by the rising pension costs. The database below shows all of the entities in each county that pick up the tab for taxpayer-funded pensions -- and how the costs are soaring. Costs for 2011 and 2012 are based on annual invoices from February of that year. Costs for 2012 are projections.
There are two separate retirement systems for state workers: the Police and Fire Retirement System (PFRS) and the Employees’ Retirement System (ERS). Many of the entities in this database make separate payments to each.

http://rocdocs.democratandchronicle....cal-entitities

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[WNYresident]

Scary isn't it. What they should do is chart that out until 2020... not just 1 year from now. Along with the same information for increases in health care cost on top of that.

[shortstuff]

Pension burden for local entitities

More than 3,400 entities provide public pensions in New York state, and data obtained from the Comptroller's Office shows a staggering increase in their current and future cost for retirees. Everything from the local library to major medical centers are being whacked by the rising pension costs. The database below shows all of the entities in each county that pick up the tab for taxpayer-funded pensions -- and how the costs are soaring. Costs for 2011 and 2012 are based on annual invoices from February of that year. Costs for 2012 are projections.
There are two separate retirement systems for state workers: the Police and Fire Retirement System (PFRS) and the Employees’ Retirement System (ERS). Many of the entities in this database make separate payments to each.

http://rocdocs.democratandchronicle....cal-entitities

search the database

Wow, the system is broke. We have kicked the can long enough because of entitlement/wants.

[WNYresident]

Cuomo is saying how we have had some historic reforms. Here is the issue nothing changed except for new hires. That doesn't do much for the non-government laborer/non-government business owner who they will force to cover all existing cost increases.

[Lee Chowaniec]

The Lancaster Central School District posted on its website the Adjusted Draft Budget that it will present at tonight’s BOE work session.

Keeping in mind that the federal JOBS grant of $1.73 million is no longer available, the district had to pick up that portion to retain the staffing that the grant money paid for. Despite cutting to a bare bones budget level, the district still had a shortfall of $538,925; to meet the 3.75% tax cap limit.

As such, the previous budget draft had an increase of $2.43 million for instructional salaries, an increase of 8.28% (from $29.39 million to $31.81 million). The new draft budget proposes a decrease of $192,232, reducing the percentage increase to 7.63%.

The previous budget draft proposal had an increase in non instructional salary of $510,146, a 4.06% increase (from $12.58 million to $13.09 million). The new draft budget proposes a decrease of $272,093, reducing the percentage increase to 1.89%.

Total Employee Benefits in last year’s budget were $21.48 million. The previous draft budget saw an increase of 6.58%; from $21.48 million to $22.89 million. The new draft proposal reduces the line item by $272,093, reducing the percentage increase to 6.19%.

In sum, the district has cut the budget to a point where they are at max cap limit; where they can propose a budget that increases the tax levy by 3.75%. Will the public approve a budget as it now stands and where instructional salaries increase by 7.63% (where teachers receive a 4.75% salary increase this coming year) and where benefits increase by 6.19%.

The school district is doing everything it can to retain programs and staff and that includes using $9.79 million in reserves and fund balance.

It is quite obvious where further cuts are to be made should the district feel the need to come in with another reduced budget to get voter approval.