Gov. Andrew Cuomo will propose a new pension tier that will offer the option of a defined contribution retirement plan — similar to a 401(k) investment account — for new government employees, people briefed on the measure said.

Appearing on Long Island, Cuomo promised to unveil the bill “in a matter of days” and said a more austere pension tier is required because “we can’t afford the public pension system that we have in this state — period.”

Union officials currently negotiating new contracts with the governor took the proposal as a shot.

“It is very clear … that the governor does not care about the impact of his policies on working people,” said Danny Donohue, president of the Civil Service Employees Association. “The governor is engaging in political grandstanding to impress his millionaire friends at the expense of working people and the services they provide to the people of New York.”

Legislators enacted a Tier V pension package in 2009 with the acquiescence of public employee unions, whose leaders secured a pledge for no layoffs through the beginning of this year. That agreement placed caps on the amount of overtime that could be factored into an employee’s pension, and raised the employee contribution rate and retirement age. It is projected to save $38 billion over the next three decades.

Cuomo and Lt. Gov. Bob Duffy declined to discuss the bill’s specifics, and while some union officials say they were briefed on its contents, a draft bill has not been circulated. A Cuomo administration official with knowledge of the bill confirmed some of its details, first reported Monday morning by the Associated Press…..

Read article here