Top Recipients of Public Pensions in New York Would Rank as 178th Largest Economy in World
NY Times -- "Roughly 3,700 retired public workers in New York are getting pensions of more than $100,000 a year. The New York Times collected this public information from the state’s two pension funds and four of the five city funds. The pension plan for the city's firefighters has yet to provide information, as required under public information laws. Some pension funds said they could not provide figures like job title or final salary; the N.Y.P.D. Pension Fund wouldn't not disclose names."
See list here and related article here.
MP: There are more than 22 retirees receiving more than $200,000 per year, and one receiving more than $300,000. In total, New York taxpayers are paying more than $370 million per year to just this partial group of retired New York public workers, which doesn't include those receiving less than $100,000 per year and doesn't include New York firefighters. If this group of retired workers on the NY Times list was considered as a separate national economy, it would rank as the 178th largest country in the world by GDP. Also, note that most of the listed annual pension amounts are roughly 80% of the workers' final year salaries.
Update: New York ranks #4 on this list of states most likely to default.