Westchester Herald

DiNapoli: Harrison’s Unrealistic Budgets Lead to $10 Million Operating Deficit

Albany, NY -- The Town of Harrison incurred a $10 million cumulative operating deficit over the last five years by enacting unrealistic and structurally unbalanced budgets, according to an audit released today by New York State Comptroller Thomas P. DiNapoli.  The town failed to accurately monitor the fund balance to ensure that it was not depleted. 

NYS Common Retirement Fund Files Legal Suit Against Merrill Lynch and Bank of America

ALBANY, NY, July 22, 2010 --  New York State Comptroller  Thomas P. DiNapoli, as trustee of the $132.6 billion New York State Common Retirement Fund (Fund), today filed separate lawsuits against Merrill Lynch & Co. and Bank of America Corp. for violating federal securities laws. 

A.G. Cuomo's Investigation About Pension Padding

 ALBANY, NY -- July 8, 2010 -- In March 2010, Attorney General  Andrew M. Cuomocommenced an investigation into a recurring problem known as “ pension padding" or “ pension spiking”– the manipulation of salary and overtime payments to inflate the ultimate pension benefits paid to retirees.

The New York State  Office of the Attorney General (“NYSAG”) collected data from various State and local agencies, municipalities, and authorities, from across the State, which participate in the  New York State Common Retirement Fund.