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Pension costs down, health care costs up

Sep 01, 2017 2:45 pm
Rick Karlin reports in the Albany Times Union reports that a robust stock market is keeping pension costs down for towns, police and fire departments, and schools, but health care costs continue to rise, according to Comptroller Tom DiNapoli Aug. 31. School tax bills that will arrive soon in mailboxes will not reflect any savings, as those bills reflect the last year’s cost, according to Teachers Retirement System spokesman John Cardillo. But any small savings for municipalities may be offset by higher health care costs. The NYSHIP health insurance program, used by many public employees, will see prices rise nine percent in 2018, while other insurers are requesting increases from 11.5 percent to 16.6 percent. Read the full story in the Albany Times Union.