How Did New York City Push Retirement Security in 2011?

What did NYC’s comptroller launch in March 2011?

In March 2011, NYC Comptroller John Liu, with the National Institute on Retirement Security and others, launched the “Retirement Security NYC Initiative”; its first report found city workers earned 17% less on average than private-sector peers, while pension costs already consumed a large budget share. The report set a data baseline for benefit reform; Mayor Bloomberg insisted pension reform was unavoidable.

What were the report’s key findings?

49% of city staff held degrees versus 41% in the private sector; the city pay gap was far narrower; teachers earned less than equally educated private workers.

What underpins Hong Kong workers’ retirement?

MPF plus voluntary savings; compare funds at MPF fund comparison to grow your pot.