Looks Like Smoke Rising From A Fire

     A recent release by the state comptroller's office of required public pension 2013 contribution rates for employers (municipalities) looks like smoke rising from a fire. According to the Albany Times Union, rates may increase by 11 percent.
     Pension contributions effective 2012 can be found in the auditor's report of the 2011 Financial Statement on the City of Cortland's website. The 2012 pension contributions are $1,415,596, up 51% from 2009.
     Director of Administration and Finance Mack Cook suggested that pension contributions for 2013 will exceed $1,667,297, based on Fire, Police and Public Works numbers that he supplied the Cortland Standard on page three, September 7, 2012. Using a city contribution of $1,667,297, the increase from the 2012 contribution is $251,701, or 17.8 percent year over year.
     Police and Fire personnel are exempt from contributing to their own pension fund (PFRS). In 2003, the state legislature exempted regular public employees who have ten or more years service from contributing to their pension fund (ERS)--if they are not in the latest pension Tier. Some of this information can be found in the city auditor's report at the city website.
     We would like to thank the Mayor, Alderpersons, and Director of Administration and Finance for the improvements of transparency on the city's website. We also withdraw prior criticism of the city for not posting balances of dedicated or undedicated funds. Fund balances for 2011 can be found in the recent posting of the auditor's report at the city website. It would be better if monthly updates of fund balances were provided.
     The state comptroller claims that the value of  the state's pension funds has increased over the past three years. But these gains have not wiped out the market losses of 2008.
     The county is facing similar mandated pension costs. By the way, where is transparency on the county's website? Where is the 2011 auditor's report? Look at the city's website to see how it's done. Oh, stop complaining....
     Municipalities have a state-mandated tax cap but all municipalities are begging for a reduction in state mandates.
     Pension contributions by all public workers would help. Any volunteers? What? We can't hear you....
     So who's going to shout: "Where there's smoke there's fire?" A firefighter who doesn't make direct contributions to a pension? How about taxpayers--especially those old cranky taxpayers on small fixed incomes?
     The Cortland Contrarian can't shout it--blogs can't shout.