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More retirements by state workers, teachers in NY

New York's large and expensive public payrolls are starting to decline, pared down by more baby boomers hitting retirement age, special retirement incentives offered last year and renewed pressure to cut spending that are all starting to cut costs for taxpayers.

By Michael Virtanen | Updated on November 01, 2011

ALBANY, N.Y. (AP) — New York’s large and expensive public payrolls are starting to decline, pared down by more baby boomers hitting retirement age, special retirement incentives offered last year and renewed pressure to cut spending that are all starting to cut costs for taxpayers.

The New York State Common Retirement Fund for state and local governments reported processing a record 30,772 retirement applications in 2010, compared with about 20,000 annually for the past two decades. Fund officials attributed 12,000 to the retirement incentives.

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