Pension problems could mean higher taxes, falling tree kills woman, Troy ramps up for the War on Crows
State comptroller Tom DiNapoli announced that a big jump in state pension fund contributions will be necessary to keep the fund afloat. He says state and local government will need to come up with $1.3 billion more next year. And you know what that means: budget cuts, higher taxes -- or both. Local leaders are irked. Harry Wilson, the Republican candidate for comptroller, argues the state's pension situation is even worse than what DiNapoli describes. [NYS OSC] [YNN] [TU] [WTEN] [Wilson campaign]
A federal grant will allow Saratoga Springs to fill seven vacant fire fighter positions. The city cut the positions earlier this year to cover a budget hole. [Saratogian] [YNN]
A multiple-car crash on alternate Route 7 killed one person and shut down the road in both directions Thursday evening. [TU] [CBS6]
State police say a Saratoga Springs woman was killed in Malta Wednesday night when a tree fell and struck the car in which she was riding. [Saratogian]
The Schenectady man who pleaded guilty setting a woman on fire has been sentenced to 15 years in prison and $26k in restitution. [TU]
State police say a Scotia woman filed a false report of a kidnapping in an attempt to damage the credibility of a witness scheduled to testify against a motorcycle gang member. [CBS6]
A new pavilion in Troy's Prospect Park has prompted a lot of squabbling. [Troy Record]
Pedro Espada isn't going down without a fight. [NYT]
The NYDN reports that Sheldon Silver holds stock in 30 companies with business before the state -- but Silver won't disclose how much. [NYDN]
Troy is planning to wage the War on Crows again this year with fireworks, lasers and loudspeakers playing crow distress calls. [Troy Record]
The renovated McGeary's pub in downtown Albany opens today with Tess Collins -- Lark Tavern Tess -- as manager. [Daily Gazette]
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"State comptroller Tom DiNapoli announced that a big jump in state pension fund contributions will be necessary to keep the fund afloat."
Public employers, and the taxpayer, maintained unreasonably-low contribution rates for years, effectively postponing their pension obligations for short-term savings. Current increases in employer contributions only constitute what is due and owing to the pension system. (Employer contributions during the years of 1991 – 1995, and 1998 – 2003 were extremely low. For example, the local government rate for the ERS in 2000 was 0.1 percent, that is, one-tenth of one percent. The following year it was 0.2 percent. Local governments had a full decade of low rates similar to these.)
... said Bob on Sep 3, 2010 at 11:42 AM | link
There is no "alternate Route 7". It cannot be found on any map nor are there any signs on any road stating such. Please stop making references to a non-existent road.
... said Mr OCD on Sep 7, 2010 at 1:44 PM | link