Cuomo's $1.75B NYSIF Surplus Raid was Actually $2.3B

The New York State Insurance Fund transferred $2.3 billion from its surplus to the state treasury last year – $550 million more than the $1.75 billion that Gov. Andrew Cuomo said he intended to take from the state-chartered carrier. Those details were revealed in NYSIF's 2013 Annual Report, released last week. According to the annual report’s Statutory Basis Financial Statements’ Workers’ Compensation Fund Statements of Income, NYSIF made a “special assessment” for New York State in the amount of $2.3 billion. This “special assessment” is t...