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.

The Giant Slice: Legacy Costs in the New York City Budget (UPDATED)

May 10, 2013
An alarming and little known fact is that a large slice of the New York City budgetary pie does not directly support current service provision. This giant slice, dedicated to “legacy costs,” will claim almost 25 percent of the budget by fiscal year 2015 – leaving fewer dollars for other budget priorities.

Letter to the Legislature on CBC's Recommendations for the FY2013-14 NYS Budget

Mar 07, 2013

In a letter to the state legislature the CBC made recommendations for the fiscal year 2013-14 New York State budget. There are two general points that are made:

  • Overall, there is much to like in the prosed budget; it continues progress in reducing the long-standing structural deficit by restraining expenditure growth and avoiding additional tax burdens.
  • “Fine tuning” the proposed budget by rejecting or revising some misguided initiatives would enhance its effectiveness in using New Yorkers’ tax dollars wisely.

Letters to the State Comptroller and NYSTRS on the Governor's "Fixed Rate" Pension Contribution Plan

Feb 25, 2013

I am writing to share the views of the Citizens Budget Commission on Governor Andrew Cuomo’s proposal to allow local governments to opt into a “fixed rate” contribution plan to fund their public employee pension obligations. We believe this proposal would endanger the future financial viability of the pension plans and recommend you reject it.

Letter to the Comptroller
Letter to NYSTRS

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.

Statement on Tier VI Reforms

Mar 15, 2012

Despite a concerted public relations campaign against the Governor’s pension reform proposal and rumors in recent days that major aspects would be abandoned, the bill that passed both houses of the State Legislature early this morning included important, beneficial changes in most components of the pension formulas that will determine benefits for future employees.

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.

Cuomo’s Reforms Are Perfectly Fair

Feb 22, 2012

Gov. Cuomo’s proposed “Tier VI” pension formula for future state and local government employees is more than fair by national standards. With New Yorkers now paying more than twice the US average per person for public-employee pensions, it’s time to rein in these costs.

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