Four out of every five taxpayer-dollars collected by New York City’s personal income tax are spent paying down the city’s public pension fund system’s liabilities, a 567 percent increase over the past 15 years. Learn how politics is increasingly driving pension decisions – and hurting taxpayers along the way.

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Unfunded liabilities at the nation’s largest public pension fund have grown from a surplus of $2.9 billion in 2007 to a deficit of more than $138 billion, despite the broader bull-market. Find out more about what is impacting CalPERS financial standing and the risks it poses to taxpayers and California retirees.

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