Some Red State/Blue State Indicia
- Thread starter nsacpi
- Start date
sturg33
I
Lol
sturg33
I
Bump
nsacpi
Expects Yuge Games
hopefully not from red state taxpayers...that would be unfair considering how much less they make than new yorkers
sturg33
I
Can you explain how an economic powerhouse like NYC even has a budget deficit if not for government mismanagement?
Tapate50
Well-known member
nsacpi
Expects Yuge Games
It doesn't. Every new mayor claims his/her predecessor left a mess behind. Then they do some hand-waving and presto they have fixed the mess.
nsacpi
Expects Yuge Games
New York’s main system (the New York State and Local Retirement System, NYSLRS) is widely considered one of the better-funded large public pension systems in the country.
- Recent official estimate: about ~92% funded (assets vs. promised benefits)
- That is:
- Above many large states (e.g., Illinois, New Jersey historically much lower)
- Slightly below full funding (100%), but not remotely “underwater”
NYC’s separate five pension systems (teachers, police, firefighters, etc.) are in a similar ballpark overall—generally high 80s to low 90s percent funded depending on system and year (they vary slightly by fund and market returns).
A big reason is investment performance:
- Strong recent market returns (often ~8–10% in good years) boosted assets
- Example: NYC pensions recently had returns around ~10% in a strong year, which reduces required city contributions
When markets do well:
- The funds look healthier
- City/state budget pressure temporarily eases
sturg33
I
sturg33
I
take your dementia pills
sturg33
I
man oh man... the phd REALLY didn't like this one... the silence is deafening!