by Greg David

The very lucrative pensions for public sector workers in New York is the primary reason why the cost of providing those benefits is soaring. But it is not the only reason.

My column in Monday’s print edition of Crain’s, “Union pensions and the big lie,” (digital subscription required) showed how the union’s claim that public sector pensions are modest is absurd. In terms of retirement income, police and teachers in New York are the real 1%, and other workers are not that far behind.

Read more: http://mycrains.crainsnewyork.com/blogs/greg-david-on-ny/2012/01/why-ny-pensions-are-so-costly/