Touting the new Tier VI for the state's employee pension systems as saving municipalities from bankruptcy, Gov. Andrew Cuomo signed the overhaul into law on Friday afternoon.
Cuomo (D-New Castle) said in a broadcasted statement that such reform should have been passed years ago.
The governor argued that pension reform was necessary to avoid layoffs of public employees, to help taxpayers and to help businesses.
“It was that clear and that obvious," Cuomo said in his broadcast. The legislation was passed this week by the state legislature.
The new tier includes major changes, although they only affect new employees. In the broadcast, Lt. Gov. Robert Duffy described measures such as the introduction of a voluntary defined contribution plan similar to a 401(k) for non-union employees, salary calculations to reduce "padding" the costs of pensions, and employee contribution in proportion to how much they make.
Other notable measures include raising the retirement age, reducing the percantage of salary that can be collected under the pensions, and requiring that the state fund any enhancements to pension plans. The later measure restricts measures dubbed "pension sweeteners."
Officials in municipalities and school districts from throughout the region have complained that the pension system as it states is a costly unfunded mandate and one that contributes signifcantly to rises in property taxes. The call for changing the system has also come less than a year after Cuomo signed a property tax levy increase cap into law, which local and school officials argued unfairly restricts their ability to pay for state mandates.
To read more about the new pension tier, for details.
noun 1. an organism that lives on or in an organism of another species, known as the host, from the body of which it obtains nutriment. 2. a person who receives support, advantage, or the like, from another or others without giving any useful or proper return, as one who lives on the hospitality of others. 3. (in ancient Greece) a person who received free meals in return for amusing or impudent conversation, flattering remarks, etc. 4. Jeff Meyer from Tuckahoe
2.BIGOT--a person who is obstinately or intolerantly devoted to his/her opinions and prejudices. 3. ROSEY REVIRA is thy name.
Fact: Your comments are laced with bigotry. Fact: I was a police officer for 21 years and a union president for 11 years. At least you are somewhat accurate on my length of service, ROSEY. JM Tuckahoe, nY
And his resume will look impressive because of his appointment to this position for political reasons, not because he was qualified.
The union's always give in to a Democatic governor...for future considerations that will happen maybe not now but in the not to distant future.....remember Tier VI only hurts the "unborn" current voting and dues paying members are not harmed.
Please stop.
Unions were needed many decades ago when labor was taken advantage of now they are ones who do the taking advantage