These pensions are well-funded. Most pensions are at or close to 100% funded. The notable exception is the fire department and police department, which are about 40-60% funded, and that’s only because of the unexpected number of 9/11-related disability claims in recent years, and even those pensions are getting better in terms of their funding.

This was solely about rising healthcare costs, not the pensions themselves. Retirees were in a lose-lose situation here - it was either allow the city to increase the amount retirees pay for healthcare, or they would eliminate all but the Medicare Advantage plan for retirees. This bill is dead, so Adams will stop offering other healthcare plans.

This certainly wasn’t a ‘win’ for retirees.