What happens when you buy a Ferrari, when you need a pickup truck?
You pay 10 times too much for what you need, you don't get what you need, and you pay a lot for mechanics. What you do get is a fast car.
It's too bad that the NYCERs doesn't even get a fast car when they make the wrong investment decisions.
Here's the the bill for the mechanics. And once again NYCERS is not even getting Ferrari mechanics.
As of August 2, 2015 the Comptroller increased the salaries of his investment staff. The story is that the five city pension funds were convinced to pay for the increases through their mindless subsidy to the Comptroller's budget. Of course, that is an illusion. It is the NYC taxpayers and the NYC employees who are paying for these increases. In fact, the employees pay twice, once as a taxpayer and a second time through their pension payroll deductions.
All the lucky people listed below are provisional employees. I wonder how permanent civil servants feel about that?
This is in addition to the five investment consultants that NYCERS paid $3.2M in FY-2014. Consultants are not the managers who do the actual investing but "experts" who advise the trustees on how oversee the managers.
| Count | Name | Civil Service Title | Assignment | % Increase | New Salary | Old salary | New Hire |
| 1 | Scott Evans | Pension Investment Advisor | CIO | 56% | $350,000 | $224,359 | |
| 2 | Michael Garland | Admin Staff Analyst | Corporate Governance | 56% | $265,000 | $169,872 | |
| 3 | John Merseburg | Admin Staff Analyst | Public Equities | 93% | $250,000 | $129,650 | yes |
| 4 | Niel Messing | Admin Manager | Hedge Funds | 67% | $250,000 | $149,701 | |
| 5 | Alexis Done | Admin Staff Analyst | Private Equity | 75% | $280,000 | $160,000 | |
| 6 | Martin Gantz | Admin Staff Analyst | Fixed Income | 62% | $280,000 | $172,840 | |
| 7 | Yvonne Nelson | Admin Staff Analyst | Real Estate | 69% | $265,000 | $156,805 | |
| 8 | Petya Nikolova | Admin Staff Analyst | Infrastructure | 59% | $250,000 | $157,233 | |
| 9 | Miles Draycott | Admin Staff Analyst | $265,000 | ||||
| 10 | Evan Nahnsen | Admin Manager | $180,000 | ||||
| 11 | Noraina Pares | Admin Staff Analyst | $130,000 | ||||
| 12 | Tatiana Pohotsky | Admin Manager | $160,000 | ||||
| 13 | Wesley Pulisic | Admin Manager | $180,000 | ||||
| 14 | Steven Veloric | Admin Accountant | $160,000 | ||||
| 15 | Scott Zdrazil | Admin Manager | $170,000 | ||||
| 16 | Marc Gross | Admin Staff Analyst | $110,000 | $70,833 | yes | ||
| 17 | Vistoria Hui | Admin Staff Analyst | $120,000 | $85,000 | yes | ||
| 18 | Janet Londond-Valle | Admin Staff Analyst | $130,000 | ||||
| 19 | Karen Barclay | Admin Manager | $160,000 | ||||
| 20 | Shachi Bhatt | Admin Staff Analyst | $160,000 | ||||
| 21 | Yi Feng | Admin Manager | $180,000 | ||||
| 22 | Millicen Budhai-Robinson | Admin Staff Analyst | $110,000 | ||||
| 23 | Eneasz Kadziela | Admin Manager | $130,000 | ||||
| 24 | Lakhir Kaur | Admin Manager | $110,000 | $70,000 | yes | ||
| 25 | Louis Lent | Admin Accountant | $110,000 | ||||
| 26 | Barbara Nersten | Admin Accountant | $120,000 | $70,789 | yes | ||
| Total = | $4,875,000 |
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