City reduces future worker retirement benefits
If money grew on trees, Hermosa Beach officials would already be grabbing their rakes and leaf bags anticipating a great fall. That’s because in November, the city will begin reducing the retirement benefits for any new hires, saving piles of money from here on out.
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Report on the Teachers’ Retirement Fund, City of New York

21 city workers take early retirement deal
Twenty-one city employees – including 12 firefighters and four police officers, some of them high-ranking – have opted to take Mayor Josh Cohen’s enhanced early retirement offer, saving the city about .8 million and preventing another round of layoffs.
Read more on The Capital

Question by Lady Goofy: What happends when city pension fund boards invest millions of dollars in a risky business?
Several city pension fund boards agreed in 2006 to invest million in DV Urban Realty. Who and how does this affect? Is this legal or illegal? Is it ethical?