New York Delays $959 Million Payment to Pension Fund

New York state, facing a $3.1 billion deficit and a cash squeeze, deferred a September payment to its $116.5 billion pension fund, forfeiting more than it would have cost to borrow the needed funds, Bloomberg data show.
By delaying the $959.1 million payment, which isn’t legally required until March 1, the state sacrificed an 8 percent [...]