Retirement Systems for Public Employees in New York State

Prior to the year 1917, there was no pension plan of importance for any class of public employees in the State of New York which was on a sound financial basis. Many plans were in operation and not a few had come to the point where it was evident t h a t they would soon have to reorganize or cease to pay retirement benefits. Within a period of four years, four retirement systems were organized, each of which covers larger classes of public employees than had previously been covered and each of which, it is believed, is organized on a sound financial basis.