An Expensive Pension Enhancement Bill is on the Move

Jun 09, 2014
A bill moving swiftly through the Legislature would reverse recent pension reforms and greatly increase New York City’s pension fund contribution costs. The bill, A9594/S7326, would increase disability pension benefits for police officers hired after July 1, 2009, when a more financially sustainable “Tier III” plan went into effect.

Letter to Mayor on Bill That Would Reverse Pension Reforms

Jun 09, 2014

A bill moving swiftly through the State Legislature would reverse recent pension reforms and greatly increase New York City’s required future pension fund contributions. The bill, A9594/S7326, would enrich disability pensions for police officers hired after July 1, 2009 under a “Tier III” plan.

A Busy Day in Albany

Feb 20, 2013
On February 13th, lawmakers in the New York State Assembly had a busy day: they introduced eight bills enhancing the pension benefits of public employees and retirees. These bills would add at least $1.35 billion in costs to State and local employers.

New York State’s Pension Plan

Mar 13, 2012

Deferrals of pension fund contributions by New York State and localities relies on unconvincing arguments by the State Comptroller that the plan is justified by the need for short-term relief from rising pension costs and that it is transparent.

Pension Reform: Firefighters Will Not Be Running Into Burning Buildings at Age 65

Mar 07, 2012

One misconception in the current debate on the pension changes proposed by Governor Andrew Cuomo – known as Tier VI – is that employees whose duties require certain physical capacities will be forced to work until age 65.

A Reasonable Proposal: Sharing More of the Cost of Public Sector Pensions with Employees

Feb 16, 2012

The pension reform proposal that Governor Andrew Cuomo submitted with the Executive Budget, known as Tier VI,  would increase contributions from new employees to the pension funds of New York’s state and local governments, including New York City.

NY Retirement Systems: Still Out of Line

Jan 26, 2012

Today, the U.S. Census Bureau released new figures on public retirement systems.[1]   A quick look at the data underscores why New York’s pension system is costly, how it is out of line with others and why reform is needed.

A More Flexible Pension Plan

Jan 26, 2012

Part of Governor Andrew Cuomo’s “Tier VI” proposal to make pension benefits for public employees of New York’s State and local government more affordable and sustainable over the long term is an optional 401(k)-style plan.

Another Good Idea to Save the City Money

Oct 28, 2011

Yesterday, Mayor Bloomberg, Comptroller Liu and a number of city labor leaders announced an agreement that is intended to “depoliticize,” “professionalize” and “streamline” the way pension funds invest. This consolidation is meant to reduce the complexity, inconsistency and inefficiency of administering five different pension funds. This makes sense.

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