14:01
Traffic jam:   4
$
92.2628
99.7057

Pensions for risky work

27 October 2020
2650
1 min.
1
Pensions for risky work

Risky work fees

The Empire Center for Public Policy analysis showed that 325 out of 491 New York City Fire Department employees, or 75% of the total, received a pension in 2019 that exceeded $100 thousand.

This amount is due to the fact that 381 retired employees have worked for at least 20 years and a disability resulting from working on the World Trade Centre rubble demolition site.

Although, 40 former employees receive over 200,000. Also, the managers who once headed the department's academy have been recognised as disabled, which means that they are paid at least 75% of their salary, rather than the usual 50%.

In 2019, providing for such retirees cost 60% of the total budgeted costs, or $880 million out of $1.4 billion, taking into account benefits for families whose relatives died in the line of duty.

As the Empire Center's Director for Strategic Initiatives said, no one denies the danger of firefighters' work, but taxpayers have every right to be informed about how pensions are calculated. This is all the more true because the funds in the relevant fund are severely underfunded and the validity of the disability is often questioned.

Moreover, the financial situation is almost unchanged. For example, in 2018, a pension of no more than $100,000 was set for 74% of former employees and $200,000 for 37. Although, a spokesman for the department said that a high percentage of those who received disability were related to the diseases caused by the terrorist attacks of 11 September 2001.

Companies1 in the news

Section:

Discussion

Rating companies
Tesla
14 Mention
Instagram
13 Mention
JP Morgan Chase
12 Mention
Walt Disney Company
12 Mention
Ford Motor Company
10 Mention
Netflix
10 Mention
Amazon
9 Mention

NEW YORK NEWS

News from GlobalNY.biz is the freshest and most relevant information about high-profile events in the region. The task of the resource's news feed is to convey to readers with maximum accuracy and objectivity information about important events in business, politics, economy, healthcare, culture and other spheres of life in New York.
GlobalNY.biz news is a coverage of economic processes taking place in New York, the latest news of public life, incidents and an overview of political events. New York news is information about the activities of small and medium-sized businesses, the work of housing and communal services and utilities, the implementation of significant projects.
The site's journalists describe not only the life of the region, but also talk about the current state of the US economy. Everything you need to know about innovations in the field of industry and agriculture, economy and power is collected in the "News" section at GlobalNY.biz.
New York news quickly informs the reader, shows the real picture and opens up hot topics. Communication with government structures and business enables us to provide our readers with reliable, information-rich material. The main page of the portal contains the key news of New York!
Alena Potapova

Development Director
Population
8112867643
Died this year
14414393
Born this year
35461958