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Air traffic control towers in the New York area are understaffed by an average of 30percentt, and with increased retirements and salary reductions at the Federal Aviation Administration, the shortages will worsen and flight delays will increase, Senator Charles E. Schumer said yesterday.
A new online ticker from the National Active and Retired Federal Employees association claims to show the hours of institutional knowledge lost through federal-worker retirements this year, illustrating a supposed "brain drain" caused by increased retirements at a time when the government is cutting back on hiring and freezing salary rates.
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Even the radical pension overhaul, which increased retirement ages and cut benefits, provoked only a three-hour strike.
The S.E.C. said the fraud began in 2001, when New Jersey increased retirement benefits for teachers and general state employees.
In 2008, for instance, lifeguards in Laguna Beach started receiving increased retirement benefits as the state's economy began to slow.
The Republicans have also been hoping to bring up other tax-cutting provisions, like increased retirement-savings incentives and deductions for college tuition.
Gov. George E. Pataki vetoed two bills yesterday that would have increased retirement and pension payments for New York City's police officers and firefighters.
If increased retirement age yields an actuarially neutral adjustment in pension benefits, welfare gains are more equally spread across cohorts.
Many choose to defer distributions as long as possible to maximize tax-deferred saving and help generate increased retirement savings.
The nearly universal welfare gain from the increased retirement age differentiates somewhat our results from Auerbach et al. (1989), who find large welfare losses for the initial cohorts.
Second-tier pensions for new employees, which could include increased retirement ages.
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