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New York's Pension 'Smoothing' May Short-Change Retirement Fund
Reuters Link to more items from this source
May 16, 2014
"[L]ocal and state authorities that need money are permitted to either defer making pension payments for as long as 12 years, or borrow directly from the pension fund. So far about $3.3 billion in pension payments has been deferred, including $1.4 billion in 2013.... [T]he fund stands to have about $735 million less in its coffers in 2024 based on the $3.3 billion that's already been deferred, an amount that will rise in coming years as the program goes on."

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