Thursday, February 27, 2014

Andrew Cuomo is....

unbelievable.

You can't bet and/or work at Nassau OTB 365 days of the year because Andrew Cuomo discriminates against New Yorkers on the basis of their religious beliefs. How can Andrew Cuomo talk about cash when you can't cash an OTB ticket at any OTB in the State?  Working is for people who are not politicians.
I work at Nassau OTB and my fellow employees put in an honest day's work for an honest day's pay. If tracks are running across the US that bettors want to bet, they should be able to do so. See NY Const. Art. 1, Sec. 3. Andrew Cuomo is simply another gangster lawyer liar politician.  We need honest competent crooks with character at the very least?


HI-
Thanks for the help. The item’s below. I’d be happy to mail you a copy, if you give me a mailing address.

Claude Solnik
(631) 913-4244
Long Island Business News
2150 Smithtown Ave.
Ronkonkoma, NY 11779-7348 

Home > LI Confidential > Stop scratching on holidays

Stop scratching on holidays
Published: June 1, 2012


Off Track Betting in New York State has been racing into a crisis called shrinking revenue. Some people have spitballed a solution: Don’t close on holidays.
New York State Racing Law bars racing on Christmas, Easter and Palm Sunday, and the state has ruled OTBs can’t handle action on those days, even though they could easily broadcast races from out of state.
“You should be able to bet whenever you want,” said Jackson Leeds, a Nassau OTB employee who makes an occasional bet. He added some irrefutable logic: “How is the business going to make money if you’re not open to take people’s bets?”
Elias Tsekerides, president of the Federation of Hellenic Societies of Greater New York, said OTB is open on Greek Orthodox Easter and Palm Sunday.
“I don’t want discrimination,” Tsekerides said. “They close for the Catholics, but open for the Greek Orthodox? It’s either open for all or not open.”
OTB officials have said they lose millions by closing on Palm Sunday alone, with tracks such as Gulfstream, Santa Anita, Turf Paradise and Hawthorne running.
One option: OTBs could just stay open and face the consequences. New York City OTB did just that back in 2003. The handle was about $1.5 million – and OTB was fined $5,000.
Easy money.




Even our Union President is a Suffolk County politician.


Long Island Business News
Suffolk, Nassau OTB probe ethics conflict
by David Winzelberg
Published: November 24th, 2013

At least one employee of Nassau County Off-Track Betting is questioning whether the head of his employee union, a member-elect of the Suffolk County Legislature, should have a say in Suffolk OTB business.
Teamsters Local 707 President Kevin McCaffery, whose union represents about 200 Nassau OTB workers, was elected earlier this month to serve as a Suffolk legislator representing the 14th District. In a letter last week, Nassau OTB cashier Jackson Leeds alerted the Suffolk County Ethics Board to McCaffery’s possible conflict of interest.
“As a Suffolk County legislator, his duties are to the people of Suffolk County,” Leeds wrote. “He cannot simultaneously represent the interests of employees of Nassau OTB, a Nassau County public benefit corporation.”
McCaffery told LIBN he doesn’t think the two counties’ OTBs are in competition with each other and he doesn’t see his role as union leader for Nassau OTB workers as a conflict with issues surrounding Suffolk OTB.
“If anything, I have the background of dealing with Nassau OTB, which gives me more insight on the subject than any other legislator out there,” McCaffery said.
When asked if the legislator-elect’s union job appeared to be a conflict of interest, Nassau OTB chief Joseph Cairo said, “If you really want to stretch it. But I don’t see anything that’s apparent to me.”
Cairo added that he’ll instruct the Nassau agency’s counsel to review the situation.
Leeds, a 10-year veteran of Nassau OTB, complained that both union officials and county OTB management have been too focused on the 1,000 video lottery terminals planned for each county’s OTB and they’re not paying enough attention to current operations.
“They never worked behind a window,” Leeds told LIBN. “They’re out of touch with the bettors of Nassau County.”
Internet wagering and dwindling handles – the overall money being wagered – have prompted a consolidation in Nassau OTB’s operations in recent years; there were 15 betting offices in Nassau in 2003, and now there are eight. Suffolk OTB, which has seven branch offices, filed for bankruptcy last year.
These days, according to some analysts, OTB offices exist largely for political patronage – another reason, according to Leeds, that the Nassau union chief shouldn’t mix one business with the other.
“Union leaders should not be politicians,” he said. “OTBs are run by politicians. Being political and doing public good aren’t always incompatible, but they often are.”
This isn’t the first time a Long Island legislator’s OTB ties have become an issue.
In May 2000, Gregory Peterson, then-president of the Nassau OTB, sued to prevent Nassau County Leg. Roger Corbin from voting on appointments to the Nassau OTB’s board of directors. Because Corbin was employed as a branch manager for New York City OTB and a member of Teamsters Local 858, which then represented all employees of Nassau OTB, Peterson alleged Corbin’s legislative role posed a conflict of interest.
A New York Supreme Court judge issued an injunction preventing Corbin from voting on OTB appointments, but Corbin appealed and the lower court’s decision was reversed. The Nassau County Board of Ethics also chimed in, determining by a 3-2 vote that voting on OTB appointments didn’t create a conflict because Corbin didn’t influence policy or engage in labor negotiations.
With McCaffery, some observers say it’s best to proceed with caution.
Anthony Figliola, vice president of Uniondale-based government relations firm Empire Government Strategies, said the legislator-elect may want to recuse himself from any votes concerning Suffolk OTB until the Suffolk County Ethics Board offers an opinion.
“OTB is a political football,” Figliola said. “It’s better to stay out of it, especially if you want to get things done in the Legislature.”


David Winzelberg
Reporter
631.913.4247
917.796.1801



From the Office of The Governor
Dear Fellow New Yorker,
Yesterday, Governor Andrew Cuomo launched “No Excuses” – a drive to bring his proposal that provides much-needed property tax relief to homeowners directly to the people of this state. 
 
Learn more about the Governor’s property tax relief plan by visiting our new website at www.cutpropertytaxes.ny.gov. You can watch a video featuring fellow New Yorkers and find out how to get involved with the effort to pass property tax relief.
What’s the problem: New York’s real property taxes remain the highest in the nation. By total dollars paid, 3 out of the 4 counties with the highest property taxes in the nation are in New York, with Westchester ranking #1, Nassau #2 and Rockland #4. By percentage of home value, 13 of the 15 counties with the highest property taxes in the nation are located in Upstate New York. 
What’s the solution: Governor Cuomo has a plan to lower property taxes for New Yorkers. Thanks to responsible fiscal management in state government over the past three years, New York has gone from a $10 billion deficit to an expected $2 billion surplus. His plan focuses on freezing property taxes for two years and creating a “circuit breaker” that will provide tax relief based on an individual or family’s ability to pay. Both of these programs are part of the Governor’s broader proposal to deliver approximately $2 billion in tax relief to families and businesses across New York.
New Yorkers can take action now by telling their legislators it is time to cut property taxes this year. Join the conversation online at #CutPropTax. 
Together, we can keep moving New York in the right direction.
Sincerely, 
The Office of the Governor




This is a message from the New York State Executive Chamber, State Capitol, Albany, NY 12224.



Wednesday, February 26, 2014

Cecelia Ratner contact information may be

Merle Ratner and Susan Ratner have refused to give their father their mother's telephone number.
She is located in the Hebrew Home in Riverdale whose CEO is a lawyer.
Reality TV Producers might make a great show about the dangers or old age and run amok children.

 
Attorney Detail
as of 03/19/2014
 
Registration Number: 1755974
   

DANIEL A. REINGOLD

HEBREW HOME FOR THE AGED AT RIVERDALE

5901 PALISADE AVE

BRONX, NY 10471-1205

United States

(Bronx County)

(718) 581-1000


   
E-mail Address:
Year Admitted in NY: 1982
Appellate Division Department of Admission: 1
Law School: CARDOZO LAW SCHOOL,YESHIVA UNIVERSITY
Registration Status: Currently registered
Next Registration: Aug 2014

The Detail Report above contains information that has been provided by the attorney listed, with the exception of REGISTRATION STATUS, which is generated from the OCA database. Every effort is made to insure the information in the database is accurate and up-to-date.
The good standing of an attorney and/or any information regarding disciplinary actions must be confirmed with the appropriate Appellate Division Department. Information on how to contact the Appellate Divisions of the Supreme Court in New York is available at www.nycourts.gov/courts.
If the name of the attorney you are searching for does not appear, please try again with a different spelling. In addition, please be advised that attorneys listed in this database are listed by the name that corresponds to their name in the Appellate Division Admissions file. There are attorneys who currently use a name that differs from the name under which they were admitted. If you need additional information, please contact the NYS Office of Court Administration, Attorney Registration Unit at 212-428-2800.



obtained from her either of her daughters,
Merle Ratner  917-773-2100  212-420-1586  212-513-7146
Susan Ratner  541-516-4016
http://keywiki.org/index.php/Merle_Ratner
 
 

International Commission-labor in New York, NY - 212-513-7146

www.switchboard.com/.../international-commission-labor-new-york-ny-...
Find International Commission-labor at 113 University Pl, New York, NY. Call them at (212) 513-7146.
 
 
 

Cecelia B Ratner Age: 65+

Phone number
 
 
DANIEL REINGOLD, PRESIDENT AND CEO OF THE HEBREW HOME AT RIVERDALE APPOINTED TO BOARD OF GREATER NEW YORK HOSPITAL ASSOCIATION - See more at: http://www.hebrewhome.org/press-releases.asp?NewsID=134#sthash.tpsSxt2z.dpuf
 

Join us on facebook   best-nursing-homes-2013
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Call us anytime toll free at  
1.800.567.3646  
There is always much to celebrate at The Hebrew Home at Riverdale
where the focus is on what can be achieved at any age.
About Us



Greetings. It is a privilege to introduce you to The Hebrew Home at Riverdale where we believe in the endless possibilities of aging. The Hebrew Home affirms that lifetime dreams can come true at any age. We are a vibrant and active community providing a wide range of opportunities to stimulate the mind, body and spirit through a variety of social, intellectual and physical activities.
The world-renowned Hebrew Home does all of this in a beautiful, relaxing setting where we offer a choice of residential healthcare, rehabilitation, palliative care and senior housing with the best medical, nursing and nutritional care possible.  ElderServe, the community services division, provides overnight respite, home care and adult day programs throughout the Bronx, Manhattan and Westchester.
Our staff is always ready to answer any questions and help address any issue. At The Hebrew Home, aging is all about living.
Daniel A. Reingold
President & CEO
- See more at: http://www.hebrewhome.org/welcome.asp#sthash.VKbHp8o6.dpuf
DANIEL REINGOLD, PRESIDENT AND CEO OF THE HEBREW HOME AT RIVERDALE APPOINTED TO BOARD OF GREATER NEW YORK HOSPITAL ASSOCIATION - See more at: http://www.hebrewhome.org/press-releases.asp?NewsID=134#sthash.tpsSxt2z.dpuf

Merle Ratner

Merle Ratner
Merle Ratner


Merle Ratner is a New York City activist. Reportedly the sister of Michael Ratner and married to a Vietnamese Embassy official.

Conference on Perspectives for Democracy and Socialism in the 90s

The Conference on Perspectives for Democracy and Socialism in the 90s was the Committees of Correspondence's first national conference held in Berkeley, California July 17-19, 1992.[1]
Workshops that were held at the conference on Saturday, July 18 included:[2]
Peace and Solidarity Taking apart the military behemoth. How can we win disarmament agreements, end military interventions, and convert our militarized economy to a peacetime orientation?

Communist "Manifestivity"

On October 30 and 31, 1998 the Brecht Forum presented the "Communist Manifestivity to celebrate the 150th Anniversary of the Communist Manifesto" at Cooper Union's Great Hall, New York.
Individual endorsers of the event included Merle Ratner.[3]
The Manifesto Commemoration Committee included Eric Canepa, coordinator; Sam Anderson, Sylvia Aron, Steve Brier, Mary Boger , Kira Brunner, Andrew Comer, Peggy Crane, Steve Duncombe, Peter Filardo, Rosa Garcia, Dan Georgakas, Joan Greenbaum, Ron Hayduk, Bill Henning, Diane Greene Lent, Danny Luce, Bill Koehnlein, Biju Mathew, Eli Messinger , Liz Mestres, Yusuf Nuruddin, Adele Oltman, Ed Ott, Leo Panitch, Renee Pendergrass, Merle Ratner, Colin Robinson, Rosina Rodriguez, Frank Rosengarten, Rob Saute, S. Shankar, Sean Sweeney, Kit Wainer, Paul Washington, Juanita Webster, Ethan Young.
The Manifesto Commemoration Committee included Eric Canepa, coordinator; Sam Anderson, Sylvia Aron, Steve Brier, Mary Boger , Kira Brunner, Andrew Comer, Peggy Crane, Steve Duncombe, Peter Filardo, Rosa Garcia, Dan Georgakas, Joan Greenbaum, Ron Hayduk, Bill Henning, Diane Greene Lent, Danny Luce, Bill Koehnlein, Biju Mathew, Eli Messinger , Liz Mestres, Yusuf Nuruddin, Adele Oltman, Ed Ott, Leo Panitch, Renee Pendergrass, Merle Ratner, Colin Robinson, Rosina Rodriguez, Frank Rosengarten, Rob Saute, S Shankar, Sean Sweeney, Kit Wainer, Paul Washington, Juanita Webster, Ethan Young.[4]

Committees of Correspondence

In July 1996 Merle Ratner was a member of the National Co-ordinating Committee of Committees of Correspondence. [5]
In 1997 Merle Ratner served on the National Co-Ordinating Committee of the Committees of Correspondence.[6]
In 2006 members of the Committees of Correspondence for Democracy and Socialism National Coordinating Committee were[7];
Marilyn Albert, Mael Apollon, Carl Bloice, Barbara Blong, Barry Cohen, David Cohen, Otis Cunningham, Carl Davidson, Mort Frank, Todd Freeberg, Pat Fry, Marian Gordon, Ira Grupper, June Hemmingson, Ed Hemmingson, Fred Hicks, Duncan McFarland, Anne Mitchell, Maxine Orris, Ted Pearson, Gina Pesulima-Palencar, Edith Pollach, Marty Price, Merle Ratner, Jay Schaffner, Jae Scharlin, Mike Stein, Harry Targ, Walter Teague, Meta Van Sickle, Steve Willett and Mildred Williamson.

Committee to Celebrate the Life of Luis Miranda Rivas

In 2009 Merle Ratner was a member of the Committee to Celebrate the Life of Luis Miranda Rivas.[8]

Vietnam Agent Orange Relief & Responsibility Campaign

In 2012 Merle Ratner served on the Board of the Vietnam Agent Orange Relief & Responsibility Campaign.[9]

"Agent Orange" campaign connection

July 15, 2010, Front left , Dr. Nguyen Thi Ngoc Phuong, Al Franken, Tran Thi Hoan (seated), Susan Schall,  Merle Ratner
July 15, 2010, Front left , Dr. Nguyen Thi Ngoc Phuong, Al Franken, Tran Thi Hoan (seated), Susan Schall, Merle Ratner
In July 2010, Dr. Nguyen Thi Ngoc Phuong a leading clinician / researcher on the effects of Agent Orange on women and children in Vietnam from Tu Du Hospital, Ho Chi Minh City, visited Washington DC with "Agent orange" victim, student Ms. Tran Thi Hoan.
On July 15, 2010, at the the Third Hearing on Agent Orange in Vietnam: Recent Developments in Remediation Rayburn House Office Building, VAVA (Vietnam Assocation of Victims of Agent Orange/dioxin) testified before the U.S. House of Representatives Committee on Foreign Affairs Subcommittee on Foreign Affairs, Subcommitte on Asia, the Pacific and the Global Environment. This was the first time a victim of Agent Orange had spoken to Congress. The victim, the well-received Ms. Tran Thi Hoan, who has no legs, received a lot of attention.
Dr. Phuong and Tran Thi Hoan were accompanied by Merle Ratner of the Committees of Correspondence for Democracy and Socialism and Susan Schnall (both leaders of the Committees of Correspondence dominated Vietnam Agent Orange Relief & Responsibility Campaign.
The party met Minnesota Senator Al Franken.[10]

References

  1. Conference program
  2. Proceedings of the Committees of Correspondence Conference: Perspectives for Democracy and Socialism in the '90s booklet, printed by CoC in NY, Sept. 1992 (Price: $4)
  3. Mail Archive website: Communist Manifestivity Conference Schedule, Oct. 28, 1998
  4. Mail Archive website: Communist Manifestivity Conference Schedule, Oct. 28, 1998
  5. Convention program, July 1996
  6. CoC Corresponder November 1996/January 1997 Page 2
  7. http://www.cc-ds.org/IssueJune2006Version4.0.pdf
  8. http://breakallchains.blogspot.com/2008/01/jan-25th-celebrate-life-of-luis-miranda.html
  9. Vietnam Agent Orange Relief & Responsibility Campaign website, accessed Dec. 13,2010
  10. [ July 15, 2010 Third Hearing on Agent Orange in Vietnam: Recent Developments in Remediation, Vietnam Agent Orange Relief & Responsibility Campaign website, accessed December 12, 2010]
 
DANIEL REINGOLD, PRESIDENT AND CEO OF THE HEBREW HOME AT RIVERDALE APPOINTED TO BOARD OF GREATER NEW YORK HOSPITAL ASSOCIATION - See more at: http://www.hebrewhome.org/press-releases.asp?NewsID=134#sthash.tpsSxt2z.dpuf

Monday, February 24, 2014




Newsday > Long Island

Judge: Mineola should not have taxed MTA

This former MTA transit building at 250 Old
This former MTA transit building at 250 Old Country Rd. is the object of a dispute over taxes between the MTA and Mineola Village. (Nov. 13, 2013) (Credit: Newsday / Alejandra Villa)
A judge has ruled that the Village of Mineola should not have taxed the Metropolitan Transportation Authority when it owned the former KeySpan building.
The decision, dated Feb. 14, strikes a blow to the village, which had in 2012 placed a nearly $490,000 lien on the now-demolished property.
The transit agency argued that the state's public authorities law exempts it from property taxes; but village officials said the property at 250 Old Country Rd. was not used for operational purposes and should not be exempt.

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Nassau County Supreme Court Judge Karen V. Murphy wrote in her five-page decision the MTA deserved a "judgment annulling and setting aside the disputed assessments as erroneous and void in light of the plainly applicable" public authorities law, which exempts public agencies from property taxes.
Mineola Mayor Scott Strauss, in an email, criticized the public authorities law. "We fully appreciate the need to exempt property used for transportation purposes. But not a single square foot of the building in question was used for those purposes. The MTA was simply a landlord for lawyers and other office uses," Strauss wrote. "If it turns out that exemption of property not related to transportation is the law, then it's a bad law."
Village Attorney John Spellman said he did not know whether the village would appeal.
The ruling, MTA spokesman Salvatore Arena said, "states clearly that the village's tax assessment is in violation of the MTA's tax exemption and is without legal merit."
The MTA had argued, according to court papers, that the agency is "wholly exempt from taxation even if some or all of that property is leased by the MTA to others." MTA officials said in court papers that though the agency "had considered using some of the office space for its own employees, it did not."
The use, MTA officials said, was confined to "several tenants [who] continued occupying some of the office space under existing leases for some time, but it is now vacated (save for three telecommunications antenna leases)."
The decision indicated that in 2012, the MTA discovered that a tax lien of $482,853.93 had arisen from unpaid village assessments. The agency placed $740,806.68 in escrow, village attorney John Spellman said.
The site was sold last year to a developer, and the building has been demolished. An $85 million development for rental apartments is planned.


Racing, Pari-Mutuel Wagering and Breeding Law

§ 109. Supplementary regulatory powers of the commission. Notwithstanding any inconsistent provision of law, the commission through its rules and regulations or in allotting dates for racing, simulcasting or in licensing race meetings at which pari-mutuel betting is permitted shall be authorized to: 1. permit racing at which pari-mutuel betting is conducted on any or all dates from the first day of January through the thirty-first day of December, inclusive of Sundays but exclusive of December twenty-fifth, Palm Sunday and Easter Sunday; and 2. fix minimum and maximum charges for admission at any race meeting.

HI-
Thanks for the help. The item’s below. I’d be happy to mail you a copy, if you give me a mailing address.

Claude Solnik
(631) 913-4244
Long Island Business News
2150 Smithtown Ave.
Ronkonkoma, NY 11779-7348 

Home > LI Confidential > Stop scratching on holidays

Stop scratching on holidays
Published: June 1, 2012


Off Track Betting in New York State has been racing into a crisis called shrinking revenue. Some people have spitballed a solution: Don’t close on holidays.
New York State Racing Law bars racing on Christmas, Easter and Palm Sunday, and the state has ruled OTBs can’t handle action on those days, even though they could easily broadcast races from out of state.
“You should be able to bet whenever you want,” said Jackson Leeds, a Nassau OTB employee who makes an occasional bet. He added some irrefutable logic: “How is the business going to make money if you’re not open to take people’s bets?”
Elias Tsekerides, president of the Federation of Hellenic Societies of Greater New York, said OTB is open on Greek Orthodox Easter and Palm Sunday.
“I don’t want discrimination,” Tsekerides said. “They close for the Catholics, but open for the Greek Orthodox? It’s either open for all or not open.”
OTB officials have said they lose millions by closing on Palm Sunday alone, with tracks such as Gulfstream, Santa Anita, Turf Paradise and Hawthorne running.
One option: OTBs could just stay open and face the consequences. New York City OTB did just that back in 2003. The handle was about $1.5 million – and OTB was fined $5,000.
Easy money.

Panel comes to Franklin Square to tell the

public employees of Nassau OTB what Suffolk County Legislator Kevin McCaffrey, AKA President of Teamsters Local 707 , whose pension plan is awaiting takeover by the PBGC, won't tell the members of Teamsters Local 707 whether they work for a public employer or a private employer. At every  general meeting of Teamsters Local 707 members ask when is the PBGC coming and what is the status of the pension plan. Kevin McCaffrey talks like a politician because he is a politician and little more

Come to Franklin Square and talk to public and private employees who are getting taken for a ride and hit by a truck


Panel Seeks Greater Disclosures on Pension Health

Detroit’s pension fund was said to be healthy just before the bankruptcy, but it turned out to be several billion dollars short.Rebecca Cook/Reuters Detroit’s pension fund was said to be healthy just before the bankruptcy, but it turned out to be several billion dollars short.
A panel of risk experts sees a teachable moment in Detroit’s bankruptcy and pension woes.
A blue-ribbon panel of the Society of Actuaries — the entity responsible for education, testing and licensing in the profession — says that more precise, meaningful information about the health of all public pension funds would give citizens the facts they need to make informed decisions.
In a report to be released on Monday, the panel will recommend that pension actuaries provide plan boards of trustees and, ultimately, the public with the fair value of pension obligations and estimates of the annual cash outlays needed to cover them. That means pension officials would disclose something they have long resisted discussing: the total cost, in today’s dollars, of the workers’ pensions, assuming no credit for expected investment gains over the years.
“We think it would be a useful benchmark for plans to have,” said Robert W. Stein, the panel’s chairman, who is both an actuary and a certified public accountant. “We’re optimistic that the information would enable them to better appreciate the future and what it might bring.”
Economists refer to this elusive number as the plan’s total liability, discounted at a risk-free rate. They have called for its disclosure for years, saying it would help pension trustees make better decisions. Economists have calculated rough approximations in recent years for various states and cities, but only the plan actuaries have the data needed for precise calculations.
For all their billions, public pension systems are largely unregulated. Actuarial standards, however obscure, may be the closest thing the sector has to a uniform and enforceable code.
Though the actuaries who work for public pensions have the capacity to spot risks and measure shortfalls with pinpoint accuracy, it is their clients — usually the pension trustees — who call the shots. And plan trustees prefer to be given traditional actuarial estimates, which are smoothed, stretched, averaged, backloaded and otherwise spread across time.
Such numbers generally comply with current actuarial standards, but as Detroit shows, they can also paper over looming disasters. Detroit’s pension fund was said to be healthy just before the bankruptcy, but it turned out to be several billion dollars short.
Bob Stein served as chairman of a blue-ribbon panel for the Society of Actuaries, which is recommending changes in disclosures for public pension funds. Bob Stein served as chairman of a blue-ribbon panel for the Society of Actuaries, which is recommending changes in disclosures for public pension funds.
The new liability measurement called for by the Society of Actuaries panel would not be the only number provided to the public, but it would provide new insight into the market risks for pension plans and the shortfall that might have to be made up by local taxpayers if investment returns did not measure up to expectations.
Disclosing pension liabilities based on risk-free discount rates, however, is viewed with deep suspicion by plan trustees and the unions that represent public workers. Pension officials and union leaders say the risk-free approach, if permitted, will be used to cast public pensions in the worst possible light to whip up fervor against them and justify the termination of the plans.
So far, the only public pension actuary who has publicly provided such numbers is Robert C. North Jr., who tracks the five funds that make up New York City’s vast pension system. He is also one of the 12 members of the blue-ribbon panel. (Other members include New York’s former lieutenant governor, Richard Ravitch; the Pension Benefit Guaranty Corporation’s former executive director, Bradley D. Belt; and the Principal Financial Group’s chief executive, Larry D. Zimpleman.)
For New York City’s biggest fund, known as Nycers, the conventional numbers show assets of about $45 billion and liabilities of $67 billion, or a less-than-stellar funded ratio of 66 percent.
But Mr. North’s fair-value numbers, deep in Nycers’s annual report, show assets of $43 billion and liabilities of $106 billion, or a funded ratio of just 40 percent — a sure sign of trouble ahead as the city’s work force ages and retires.
The difference, $63 billion, is Nycers’s shortfall. That money has to be made up before today’s city workers retire — within 14 years, on average. As a result, New York’s contributions to Nycers are rising every year, squeezing the city budget and making it harder for the city to provide public services.
Mr. North said in 2006 that he tried to give these numbers greater prominence in the annual reports, but was blocked by the plan’s outside auditor, who said that doing so did not comply with generally accepted accounting principles.
Detroit felt an even bigger budget squeeze over the last decade. But, unable to see the hopelessness of its situation, the city borrowed $1.4 billion from the bond markets, put that cash into its pension system and declared victory. The money was invested in assets that subsequently lost value, the workers kept on accruing new benefits, tax revenues continued to falter and finally, last year, that debt was the first thing Detroit defaulted on as it hurtled toward bankruptcy.
The city now says the borrowing transaction was an illegal sham and has asked the bankruptcy court to void it. Bondholders have been told to expect pennies on the dollar for their claims. Pensioners’ losses in the bankruptcy will be softened, but some of them have been warned that their pension checks will be docked to offset improper payouts in the past.
Detroit might have gone bankrupt in any case, but the pain might have been lessened if better decisions had been made early on to address the rising cost of the benefits in the face of the shrinking tax base.
For other places that may have the same problem, the blue-ribbon panel is calling for actuaries to produce other details as well: each pension plan’s projected annual cash payments; the estimated volatility of the fund’s investment performance; and something called a “standardized plan contribution,” which would help all stakeholders assess whether the actual contributions to a pension fund, paid by workers and taxpayers, are reasonable and adequate.
“One would think that alert trustees would want to review this,” Mr. Stein said, “and evaluate how they should respond.”
Mr. Stein said the panel had asked the Actuarial Standards Board to incorporate its recommendations into its professional standards, or perhaps into a new standard solely for public pensions.
A version of this article appears in print on 02/24/2014, on page B