Tag: Public Pensions

Just over two years ago, New York State enacted what then-Gov. David A. Paterson presented to the world as "landmark pension reform." In his 2012-13 budget proposal this week, Gov. Andrew M. Cuomo raised the subject of pension reform all over again. Why? Because Paterson's bill was a "landmark" only in the annals of Albany political hyperbole. Read More

A popular retirement plan first authorized almost 50 years ago for employees of the State University of New York (SUNY) can be a model for a defined-contribution option that would be offered to all new state and local employees under Governor Andrew Cuomo’s Tier 6 pension reform proposal, according to a report released today by the Empire Center for Public Policy. Read More

Traditional public employee pension programs in New York State have become unaffordable for taxpayers—while denying workers the ability to choose more flexible approaches to retirement planning. Read More

Battle lines have been drawn on public pension reform in New York and some of the fiercest public employee union attacks are focusing on Gov. Andrew Cuomo’s proposal to let future government employees choose between a traditional pension and a defined-contribution retirement savings plan. Read More