NYC stops payment into nonprofits' pension system

NYC stops payment into nonprofits' pension system

Posted: Updated:

NEW YORK (AP) -- New York is withholding pension payments for cultural institutions and day care centers that have city contracts.

The institutions include the American Museum of Natural History and the Brooklyn Museum.

According to Budget Director Mark Page, the city has not paid into the Cultural Institutions Retirement System this fiscal year.

The decision is based on a review that suggests the number of workers covered by the arrangement was overstated.

The nonprofits had no immediate comment.

The director of the day care workers' union says that's a faulty conclusion. Raglan George Jr. told The New York Times that 1,200 workers let go last year should not have been included in the total.

 

The story was first reported by the New York Post.

  • Your Money

  • Wednesday, June 19 2013 6:12 AM EDT2013-06-19 10:12:52 GMT
    A senior administration official says Gov. Andrew Cuomo and legislative leaders have struck a deal to authorize four upstate casinos and to allow votes on 10 separate women's rights bills including an abortion...
    A senior administration official says Gov. Andrew Cuomo and legislative leaders have struck a deal to authorize four upstate casinos and to allow votes on 10 separate women's rights bills including an abortion proposal...
  • Tuesday, June 18 2013 11:03 PM EDT2013-06-19 03:03:58 GMT
    Facebook, which owns Instagram, is expected to announce this week a new video option for the popular photo app. Most likely the feature will be for shortened video clips.
    Facebook, which owns Instagram, is expected to announce this week a new video option for the popular photo app. Most likely the feature will be for shortened video clips kind of what you see on Vine.
  • Salonella risk

    Tuesday, June 18 2013 9:20 PM EDT2013-06-19 01:20:32 GMT
    Natura Pet Products is voluntarily recalling all Innova, California Natural, EVO, Healthwise, Mother Nature and Karma branded dry pet food and biscuit, bar, and treat products with expiration dates prior to June 10, 2014, because of a positive Salmonella test.
    Natura Pet Products is voluntarily recalling all Innova, California Natural, EVO, Healthwise, Mother Nature and Karma branded dry pet food and biscuit, bar, and treat products with expiration dates prior to June 10, 2014, because of a positive Salmonella test.
Powered by WorldNow

KTBC FOX 7
119 East 10th Street
Austin, TX 78701

Phone: (512) 476-7777
Fax: (512) 495-7001

Didn't find what you were looking for?
All content © Copyright 2000 - 2013 Fox Television Stations, Inc. and Worldnow. All Rights Reserved.
Privacy Policy | Terms of Service | Ad Choices