N.Y. Faces $200 Billion in Retiree Health Costs
By MARY WILLIAMS WALSH
Published: October 12, 2010
The cities, counties and authorities of New York have promised more than $200 billion worth of health benefits to their retirees while setting aside almost nothing, putting the public work force on a collision course with the taxpayers who are expected to foot the bill.
The total cost appears in a report to be issued on Wednesday by the Empire Center for New York State Policy, a research organization that studies fiscal policy.
It does not suggest that New York must somehow come up with $200 billion right away.
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