Economy

The Pension Peril: NY Comptroller Scott Stringer Proposes Reforms

More than 700,000 civil servants – both retired and active – are eligible for pensions in New York City. But are their pensions in peril?

NassauColiseum_picnik
John Farley  |  August 1, 2011 6:00 AM | 5 Comments
Controversy has consumed the construction of three arenas in recent years. Why does the combination of sports and development incite such furious debate?
COLORS is a worker-owned cooperative dedicated to improving working conditions, wages, racial equality, and career mobility in the restaurant industry. Former workers from Windows on the Word established the restaurant on 417 Lafayette Street in Manhattan. Photo AP/Bebeto Matthews
Sam Lewis  |  July 29, 2011 6:00 AM | 3 Comments
One year ago, the city began branding restaurants with grades based on cleanliness and food safety -- but how can you tell what the conditions are for workers?
MetroFocus/Sam Lewis
Sam Lewis  |  July 28, 2011 8:08 AM | 1 Comment
Over the past week, news about the Bronx has cast the borough in a spectrum of lights, from a model for urban redevelopment to a place riddled with failing infrastructure.
The New Jersey Performing Arts Center in Newark. Flickr/Wallyg
Bob Feinberg  |  July 26, 2011 6:00 AM | 2 Comments
I went to a concert last night…in Newark. I still can’t help but be somewhat amazed by that statement; the “in Newark” part, that is.
MTA CEO Jay Walder announced his resignation this afternoon. Walder will leave to head the Hong Kong-based MTR Corporation in October. AP/Mary Altaffer.
John Farley  |  July 21, 2011 6:06 PM | Updated: July 22, 2011 10:26 AM | 1 Comment
MTA CEO Jay Walder abruptly announced his resignation Thursday. Reports indicate that a $924,000 salary in Hong Kong could be the reason for his exit. Who will have the fortitude to take over his job?
New York State Comptroller Thomas DiNapoli audit released an audit yesterday of the Port Authority which claims the bistate agency outsourced its security, janitorial and landscaping work to contractors for three decades. AP Photo/Mike Groll.
Adam Lisberg for The Capitol  |  July 20, 2011 11:11 AM | Comments
New York State Comptroller Thomas DiNapoli says the Port Authority can’t justify more than $1 billion the agency pays to outside contractors for services each year – and he’s setting his sights on similar contracts at 20 other agencies.
Michael Bloomberg
John Farley and Laura van Straaten  |  July 20, 2011 6:00 AM | Updated: June 21, 2011 10:13AM | 2 Comments
The mayor has a dream for New York City: to one day rival Silicon Valley as the center for technological innovation. And that may be doable -- the city has replaced Boston as the second largest technology hub in the nation, according to a new report. But the plan is not without its critics.VIDEO
Construction on Barclay's Center. State documents predicted there would be 1,620 construction jobs this summer. There are 543. Flickr/m_dougherty.
John Farley  |  July 19, 2011 9:00 AM | Updated: August 24, 2011 9:40 AM | 2 Comments
Many construction workers -- long-standing supporters of the controversial Atlantic Yards project -- are becoming disillusioned and angry as promised jobs fail to appear.VIDEO
Walmart, traditionally situated in rural and suburban locales, is pushing for an urban location in New York City. Flickr/Walmart Stores.
Kira Cohen  |  July 19, 2011 6:00 AM | Updated: November 14, 2011 3:03 PM | 1 Comment
On Monday, Wal-Mart announced its annual holiday season donations -- none of which are going to New York City. Is the retail giant backing out of its plan move into the five boroughs?
New York City students arriving at school. The Times reported the inside scoop on how the city managed to avoid 4,100 teacher layoffs. AP/Seth Wenig.
John Farley  |  July 18, 2011 12:15 PM | Comments
From the fight over suburban charter schools to the discontinuation of a teacher performance bonus program, it's been a busy week and weekend for education in the region. Check out the highlights.
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