Leadership

New York Fire Pension Fund

Issue 3 and Volume 55.

New York Fire Pension Fund GENERAL NEWS FEATURES New York City Fire Department’s pension fund is the only fund of its character conducted for the benefit of the employes of the larger departments of the city government which is not operating under an apparent annual defiency. Yet, the fund in the opinion of experts expressed yesterday, must inevitably drift backward until it occupies the same position toward the city as the Teachers’ Retirement Fund, and the Police Fund, each of which now is showing annual deficiencies of several hundred thousand dollars. One of the chief reasons why the Fire Department fund, the experts declare, is not already being operated in solvency, its debts being overcome by the direct appropriation of city money from year to year, is its youth and a provision which specifies that a fund of $800,000, established long ago, shall be maintained intact. Thus, whenever a deficiency…

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