New York City taxpayers are helping to pay $850 million in Wall Street investment fees — even as these financial gurus have produced only meager results for strapped city and state pension funds.
City Comptroller John Liu this week released a comprehensive analysis of NYC pension costs over the past decade, revealing why they have risen from $1.2 billion to $7.7 billion.
Liu said one of the major factors in the shortfall was higher than expected investment and administrative fees, which
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