Public pension costs pushing LI taxes up
Quick ReadExperts cite three key factors behind the ballooning public pension obligations.
Photo credit: istock | Demands on taxpayers to contribute significantly more toward pension costs are not solely to compensate teachers and school administrators.
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Long Island's school districts, already wrestling with potentially steep state aid cuts this year, also face upward of a $100-million increase in employee pension costs as they prepare budgets that could mean hefty tax hikes or layoffs and program cuts.
Making up that amount will require a nearly 40 percent increase in districts' contributions to the state teachers' pension fund, which is...
