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Long Island villages face soaring pension obligations
Photo credit: Steve Pfost | Donna Barnett stands inside Amityville Village Hall with pension invoices and paperwork on the 2011/2012 budget. She is the treasurer of the Village of Amityville and say's she has "extreme dismay" at the rising costs of Villages. (Jan. 9, 2012)
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LI's $3B pension tab
State public pension contributions for villages across Long Island will total more than $115 million between now and February 2013, forcing officials to consider hiring freezes, tax increases and potential service cuts.
The villages' 2013 tab alone is more than double what it was in 2010, largely because of the state's need to make up for substantial stock market losses the pension plans suffered...
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