Mayors and county executives from across New York State, representing more than 15,000,000 New Yorkers, have formed a bipartisan coalition to address the crisis of skyrocketing pension costs. New York Leaders for Pension Reform is campaigning across the State to ensure that state legislators understand the importance to local governments of passing Governor Andrew M. Cuomo's reform plan to get pension costs under control without reducing retirement benefits for a single existing public employee.
Taken together, annual pension costs to local governments across the State have gone from $1.7 billion in 2002 to $12.5 billion today – an increase of more than 630%. Despite opposition to reform by Comptroller DiNapoli and others, members of the coalition know first-hand how runaway local pension payments have already significantly reduced localities' ability to fund education, public safety, social services, economic development and other services – and how skyrocketing costs threaten to force severe budget cuts or tax increases in the years ahead. That is why local government leaders are demanding action from the Legislature now.
Governor Cuomo's plan will create a new tier of pension benefits for yet-to-be-hired employees who are participating in the New York State and New York City retirement systems. Existing employees and retirees will be unaffected. The new plan would reasonably raise the retirement age for newly hired employees, and exclude overtime from the formula used to calculate the final average salary for pension payments. Further, the proposal would provide employees with the option of participating in a defined contribution plan – similar to plans common in the private sector – that some employees may decide is a better choice for their individual career path.
The Governor's plan is the right one for our future. It will both protect taxpayers and ensure secure retirements for public employees. Please contact your State Senators and Assembly Members today and urge them to support pension reform now.
March 4, 2012
New York Leaders for Pension Reform Releases New Data on Substantial Value of New York City Employee Pensions and the Costs to the City (PDF)
February 22, 2012
Mayors and County Executives from Across New York States Announce New York Leaders for Pension Reform (PDF)
New York State's pension costs are unsustainable. That's why leaders across the State support Governor Cuomo's common sense plan to protect taxpayers and control costs – without diminishing retirement benefits for a single existing employee.
Join New York Leaders for Pension Reform and urge legislators in Albany to take action now to reform the pension system for future generations. Add your information below to join the effort:
County Executive Robert P. Astorino
County Executive Steve Bellone
Chairman of the County of Board of Supervisors Douglas
Mayor Michael R. Bloomberg
New York City
Mayor Noam Bramson
County Executive Maggie Brooks
County Executive Edward A. Diana
Mayor Jeff Graham
Legislature Chair Mary Pat Hancock
Mayor Shawn Hogan
Mayor Gerald D. Jennings
Mayor Donald M. Kasprzak
County Executive Joanne M. Mahoney
County Executive Edward P. Mangano
County Executive Daniel P. McCoy
Mayor Stephanie Miner
Borough President James P. Molinaro
County Executive Marcus J. Molinaro
Mayor William D. Nelson
Mayor Robert A. Palmieri
County Executive Anthony J.
County Executive Mark Poloncarz
Chairman Martin Reid
Rensselaer County Legislature
Mayor Thomas S. Richards
Mayor Thomas M. Roach
Mayor Samuel Teresi
County Executive C. Scott Vanderhoef
For more information about
New York Leaders for Pension Reform, please contact: