New York's public sector employees have been promised $250 billion in retirement health benefits, though the state and local governments have not set aside money to cover them, this according to a new report. The Manhattan Institute's Empire Center for Public Policy says the obligations have increased by $45 billion since 2010. The report says the unfunded liabilities include $84 billion for New York City, $73 billion for the state, $17 billion for the state's 20 most populous counties and $7.4 billion for the 20 largest school districts outside New York City. The center says in the report that many public sector employers allow retirees to stay in employee health insurance plans while paying a fraction of the premium.
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