Pensions
Despite recent uproar about the richness of public employee pension benefits, there has been no serious effort to modify the state constitutional pension guarantee for state and local workers (Article V. Section 7).
Sub-Topics
ARTICLE V
Officers And Civil Departments
[Membership in retirement systems; benefits not to be diminished nor impaired]
§7. ... membership in any pension or retirement system of the state or of a civil division thereof shall be a contractual relationship, the benefits of which shall not be diminished or impaired.
Tuesday, April 2, 2013
Stephanie Miner, Mayor of Syracuse, has criticized the governor’s proposal to allow local governments to defer a portion of their pension costs by choosing a fixed contribution rate below a higher current one. In doing so, she has become a...
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Monday, May 28, 2012
Few investors are more bullish these days than public pension funds.
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Tuesday, March 6, 2012
ALBANY, N.Y. — Nearly 2,000 union members demonstrated in Albany on Tuesday to urge lawmakers to block Gov. Andrew Cuomo's proposal to cut the taxpayer cost of pensions for future public workers.
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Monday, March 5, 2012
A formal fiscal analysis sent to Cuomo’s budget office on Jan. 31 by the organization that administers the pension system for teachers and school administrators included a section slugged “legal concerns.”
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Sunday, August 14, 2011
Suffolk has become a testing ground in a statewide crackdown on pension violators -- the result of a special arrangement between state Comptroller Thomas DiNapoli and county Comptroller Joseph Sawicki.
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Saturday, March 30, 2013
The President's plan to lower the Cost of Living Adjustment (COLA) for Social Security recipients is a bad idea and a distraction from the real problems of Social Security.
The President's plan to lower the Cost of Living Adjustment (COLA) for Social Security payments fails to recognize that Americans, many without pensions or sufficient personal savings, are increasingly dependent on Social Security in retirement. Pension reform is part of the answer.
Monday, January 28, 2013
Cuomo's "Stable Rate Pension Contribution Option" allows local government to postpone pension contributions, but provides no long-term savings. This is a poor substitute for real pension reform.
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Thursday, January 24, 2013
Cuomo's budget includes “Stable Rate Pension Contribution Option” provision, allowing local officials to stretch pension obligations, paying less now but almost certainly more later on. The mayor of Syracuse describes this as...
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Wednesday, March 14, 2012
As push comes to shove in Albany on taming the government pension beast, Gov. Cuomo must hold fast on three points:No pension reform, no budget.No substantial savings on traditional retirement benefits, no pension reform.And no 401(k)...
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Thursday, December 29, 2011
Yet the governor has the constitutional power to drive pension reform in the budget process (see Article VII of the 1929 amendments to the state Constitution) — and he knows it.
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Amendments proposed in the New York Legislature either currently or in the past that are worthy of note.
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