New York's pension 'smoothing' may short-change retirement fund
May 16, 2014 at 01:05 AM EDT
NEW YORK (Reuters) - New Yorkers who rely on the state pension fund for their retirement may be short-changed about $735 million over the next 10 years as a result of Governor Andrew Cuomo's policy of permitting local authorities to defer fund payments so they can fill budget gaps and pay for services such as schools, street lights and police.