Gov.'s Office Says NYSIF Transfers Won't Impact Bottom Line

A deputy to New York Gov. Andrew Cuomo said Monday that a proposed transfer of $1.75 billion from New York State Insurance Fund to help balance the state's budget won't impact the carrier's year-end fund balances.Alphonso David, a deputy secretary for the governor's office, said during an interview that Cuomo's budget proposal will eliminate future liabilities, so the approximately $2 billion held in reserves to pay assessments to the State Workers' Compensation Board won't impact NYSIF's bottom line."It doesn't affect their balance," David said. "You have l...