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Pension 'Smoothing' Option Flops in New York
The [Albany NY] Times Union
July 16, 2013 "A recent survey by the [New York state] Association of School Business Officials found that less than 10 percent of respondents planned to use the option, which allows for slightly lower payments in the short term but could cost more in the long run.... 'The reasons for not participating range from "postponing the inevitable" and "shifts burden onto the backs of future taxpayers" to "not a very fiscally sound way to operate" and "district does not want to push current costs onto future years,"' said Michael Borges, the association's executive director[.]" MORE >> |
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