Pension explosion: Albany's fake fiscal analysis?


The Times' Danny Hakim today has a valuable story that demonstrates clearly what's been suspected for many years -- that fiscal analysis included in legislation is about as reliable as the "self-certifications" filed by many builders with government agencies.
District Council 37 wrote a bi-partisan pension-sweetening measure sponsored by Sen. Martin Golden (R-Brooklyn), at left, and Assemb. Peter Abbate (D-Brooklyn), at right -- as well as the fiscal "analysis" that it would have no monetary impact on the city -- which the city claims is actually $200 million.
This story, coming as public pensions are under scrutiny and state expenses are spiking, has a number of interesting facets, and is worth a close read here. Note the sponsors' reactions to the news that the "analysis" was performed by an actuary in the pay of the unions.
The story coincides with Gov. David Paterson's declaration against special pension bills that traditionally bloom in the spring in Albany.
All this is of a piece with Newsday's recent efforts to highlight controversial public pension practices, the latest of which is here.
Dan Janison


