Tuesday, February 28, 2012

Gov. Cuomo says mayors need to get more involved

Gov. Andrew Cuomo took the battle over state pensions directly to city and village mayors Monday, urging them to push their Senate and Assembly representatives to back his proposal to scale back benefits. Speaking to the New York Conference of Mayors at its winter meeting, Cuomo reiterated his position that rising pension costs will “bankrupt local governments.” He asked the mayors to get involved. In his budget proposal, Cuomo has sought to create a new pension tier—Tier VI—that would raise employee contribution rates, increase the retirement age from 62 to 65, and offer a 401(k)-style option. The tier would apply to new employees.

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