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Why City Workers’ Pensions Could Go Way Up — Even As Your 401(k) Tanks

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Why City Workers’ Pensions Could Go Way Up — Even As Your 401(k) Tanks

New York Post September 18, 2022
EconomicsOther

Uniformed city workers like NYPD officers can see their pension rates rise even as inflation surges.

With S&P stock down nearly a quarter this year, the worst performance in half a century, and inflation at 8%, cutting deeply into savings, it’s time to worry about pensions. Your pension — and the retirement security of the city’s government workers, which you also have to pay for.

If you work in the private sector, unless you sold all your stocks and bonds last year and bought some luxury purses, you’re probably feeling a little bit poorer this year when looking at your 401(k).  

So you’re likely a little envious of people who work for city government — some of the only people left with guaranteed pension income.

Continue reading the entire piece here at the New York Post

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Nicole Gelinas is a senior fellow at the Manhattan Institute and contributing editor at City Journal. Follow her on Twitter here.

Photo by PeopleImages/iStock

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