Log in Subscribe

Proposals to Benefit City Pensioners

By JOEL FRANK
Posted 11/16/20

In the Current Pension Topics of Oct. 9, I wrote:

"The city (taxpayer) can satisfy all of its borrowing needs at an interest cost of about 1.5 percent. So why does the city borrow the member's Accumulated Deductions/Annuity Savings at a minimum interest cost of 5 percent? An interest-bearing savings account is hardly the optimum way to save for retirement. The mandatory pension deduction is crying out for alternative investments."

This item is available in full to subscribers.

Please log in to continue

Log in