A 2.68 percent decline in the state’s pension fund for the past fiscal year means taxpayers will have to shoulder more of the cost of retirement benefits paid out to public employees.
State Comptroller Thomas DiNapoli announced the dip Thursday, and acknowledged on The Capitol Pressroom that it would translate to increases beyond what was projected this spring by the state Division of Budget.
Read this full story from The Capitol Pressroom: http://www.wcny.org/decline-in-stock-market-will-drive-up-state-pension-costs/
