[The Mayor]

The pension tsunami I have been yelling about for years? Is it finally about to become a reality?

[Alberta's Child]

Actually, New York State's pension system is remarkably sound. For all its flaws, New York has a stellar reputation for taking steps to insure the solvency of its pension system over the long term.

Health care benefits for retirees are a whole different story, since they aren't financed through the state's pension system. I believe they are funded on a "pay as you go" system for public agencies.