The Rochester Democrat and Chronicle covers the issue in;
New York state pension costs soar
Here are some highlights:
- local governments will have to increase contributions to the state pension system from 7.4 percent of their total payroll in 2010 to more than 11.5 percent in 2011.
- pensions for police and fire departments, local governments will be required to increase their contribution rates from 15.1 percent to at least 18.4 percent
- cities say they would have to raise property taxes by 10 percent in 2011 just to cover the soaring pension costs.
Time will tell, because you can all but be certain spending will not be cut.