According to a Pete Donohue report in The Daily News, the recent economic slump has impacted the MTA’s pension funds to the tune of $500 million. Between January and the end of the November, the authority’s pension fund shed nearly a quarter of its overall value, and this news is clearly not good for a cash-strapped agency.
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Great. Like I don’t have enough trouble paying for my own retirement already. My retirement fund can tank, but guess whose is guaranteed.