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New budget has taxpayers paying big for principal pensions

FEBRUARY 26, 2018 | by Carl Campanile | NEW YORK POST

“Mayor de Blasio’s preliminary budget sets aside $50 million to have taxpayers guarantee an eye-popping 8.25 percent return on a special pension fund covering more than 20,000 school principals, supervisors and staffers. This supplemental fund is on top of the regular pension educators receive from the city, also guaranteeing a 7 percent return. … But here’s the difference — the taxpayers are on the hook even if the investments tank — guaranteeing 8.25 annual return for supervisors and 7 percent for teachers.”

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