Wednesday, May 25, 2011

Where the City's Pension Money Goes - FY-2012

For FY-2012, the city has budgeted the following amounts for the five pension funds. As of June 30, 2009, the very efficient NYCERS actuary reported the number of members and retirees of the the five pension which I have also included.

SystemCity AmountsAll MembersAll Retiree
TRS: $2,658.6M129,308 70,825
Never Never Land: $950.9M******

Never Never Land is my nick name for a contingency fund which the city claims it might need. That is in contrast to teachers, and fire houses. Last year $603M was budgeted for Never Never Land and never used.

Note: Only 55%, approximately, of the NYCERS members & retirees are city workers.

No comments: