TITLE

2004 Could Bring Pension Bonds To N.Y. Localities, Barring a Veto

AUTHOR(S)
McDonald, Michael
PUB. DATE
May 2003
SOURCE
Bond Buyer;5/13/2003, Vol. 344 Issue 31634, p1
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
Facing a sharp increase in projected annual contributions to the fund controlled by state Comptroller Alan G. Hevesi, local governments in New York may be given a one-year window in 2004 to sell pension obligation bonds to cover some of their employee pension costs. The governments would pay 4.5 percent in 2003, which would become the minimum annual contribution going forward if Governor George E. Pataki signs the legislation. The payments are due December 15 of every year. In contrast, local governments and the state paid around one percent of payroll.
ACCESSION #
9893062

 

Related Articles

  • Pataki vetoes pension bill. Harrington, John // Crain's New York Business;2/13/95, Vol. 11 Issue 7, p30 

    Reports on New York Governor George Pataki's rejection of the state legislature's attempt to raise pensions for state and city workers. Similar opposition to legislation by New York City Mayor Rudy Giuliani.

  • Workers' comp.  // Crain's New York Business;05/19/97, Vol. 13 Issue 20, p31 

    Reports that New York Governor George Pataki has drafted a cleanup bill to correct technical flaws in the workers' compensation reform law of 1996. Suspicions of Assembly Democrats.

  • Aurelia Greene urges Pataki to pass pension bill for New York state workers. Browne, J. Zamgba // New York Amsterdam News;3/4/95, Vol. 86 Issue 9, p5 

    Reports on Assembly member Aurelia Greene's criticism to Gov. Pataki's veto of a bill to increase pensions for retired New York state workers. Impact of the veto on New York City's boroughs; Statistics on the pension of the average state retiree; Other lawmakers critical of Pataki's veto.

  • High Court Clearance. McDonald, Michael // Bond Buyer;5/14/2004, Vol. 348 Issue 31884, p1 

    Reports on the New York high court's ruling against the Local Government Assistance Corp.'s challenge to the state's Municipal Assistance Corp. (MAC) Refunding Act. New York City's plan to finance for another 30 years the $2.5 million in MAC debt that is due to mature in 2008; Impact of the...

  • Hevesi Promoting N.Y. Pension Reform Plan to Rival Pataki's. McDonald, Michael // Bond Buyer;5/7/2004, Vol. 348 Issue 31879, p44 

    Reports that New York state comptroller Alan G. Hevesi is promoting his pension reform plan. Effect of the reform on municipal market; Temporary relief to the state and local government; Pension reform proposal of governor George E. Pataki.

  • Pataki Program Bill Freeing NYSIF Investments From Existing Legal Restraints Passed By Legislature.  // Insurance Advocate;06/24/2000, Vol. 111 Issue 26, p22 

    Reports on the passage of New York Governor George E. Pataki's program bill that would authorize the fund to invest in a wider range of stocks and bonds. Benefits of the legislation; Remarks from H. Neal Conolly, executive director of the New York State Insurance Fund; Information on the fund.

  • New York Court of Appeals Grants Expedited Hearing in MAC Case. Braun, Martin Z. // Bond Buyer;3/26/2004, Vol. 347 Issue 31850, p3 

    Reports that the New York Court of Appeals has granted an expedited hearing in the legal dispute between the state and the New York City over the refinancing of the city's debt. Plan of Mayor Michael Bloomberg to resolve the dispute; Agreement of Governor George E. Pataki to the expedited...

  • Legislature Approves Budget Plan With Aid For Localities. McDonald, Michael // Bond Buyer;8/17/2004, Vol. 349 Issue 31949, p5 

    Announces that the New York's state Legislature provided Medicare relief and increased financial aid to local governments in the budget that it passed in August 2004. Approval of a supplemental aid for seven cities that were not receiving such funds including Ithaca, Saratoga Springs and...

  • CBC Wants Veto of N.Y. Pension Bill. Cataldo, Adam L. // Bond Buyer;7/28/2004, Vol. 349 Issue 31935, p2 

    Reports that the Citizens Budget Commission has called on New York Governor George Pataki to veto a bill seeking to allow local governments to issue bonds to satisfy state pension fund requirements. Provisions of the proposed legislation.

Share

Read the Article

Courtesy of VIRGINIA BEACH PUBLIC LIBRARY AND SYSTEM

Sorry, but this item is not currently available from your library.

Try another library?
Sign out of this library

Other Topics