Cuomo's Pension Plan Rejected by New York Assembly Democrats + MTA Funds Cut

[mark1447]

March 12 (Bloomberg) -- New York Assembly Democrats rejected Governor Andrew Cuomo's proposal to raise the retirement age and offer a 401(k)-type option to future workers in their version of the budget, according to a legislative memo released yesterday.

 

The Assembly is expected to vote on its budget plan as early as today, said Ron Canestrari, Assembly Democratic Majority Leader. Democrats hold the majority in the Assembly. Senate Republicans released their budget resolution today and are planning to vote on it, said Scott Reif, a spokesman for Majority Leader Dean Skelos, a Long Island Republican.

 

Cuomo, a Democrat, has said his overhaul of the pension system will save local governments and the state $113 billion over the next 30 years as it raises the retirement age to 65 from 62 for most new workers. The proposal has drawn the governor into a battle with the state's public-worker unions and Comptroller Thomas DiNapoli, a fellow Democrat and the sole trustee of the $140.3 billion pension fund.

 

"It's not part of our budget and will be handled separately," Canestrari said in a telephone interview on March 9, when the Assembly finished its budget plans. "Negotiations are under way, and they're pretty intensive."

 

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MTA Cuts

 

 

The Republican proposal also would cut $770 million that Cuomo's budget appropriates to the Metropolitan Transportation Authority's capital program, and would deny a $7 billion increase to the authority's debt cap, the resolution says. Cuomo's budget proposes raising the largest U.S. transit agency's debt limit to $41 billion from $34 billion, the governor's budget says.

 

Assembly Speaker Sheldon Silver, a Manhattan Democrat, said last week the governor must work out an agreement over Cuomo's pension overhaul with the unions before the house will vote on the measure. Cuomo met with union leaders March 6 to discuss pension changes and other items in the budget, he said during a March 8 press conference in Albany, the capital.

 

"Discussions continue, and we've made it clear that a 40 percent cut in retirement benefits for new employees isn't acceptable," said Carl Korn, a spokesman for New York State United Teachers, the state's largest education-worker union, in a telephone interview yesterday. "We continue to fight to protect retirement security."

 

Read the entire story here: Cuomo's Pension Plan Rejected by New York Assembly Democrats

[INDman]

He can blow his pension plan out his ass. It's bad enough that the TA is 25/55.

[Tokkemon]

No worker in any field should be retiring any earlier than 67. I mean, really!

[QM1to6Ave]

Oh god, what a mess this has become. NO matter what, someone is not going to be happy with the outcome. THe only question is how many people will get screwed.

[Joel Up Front]

And people wonder why I think politicians have their heads so far up their asses, they can't tell the shit they pass into law from the shit they make...

[Urbanfortitude]

No worker in any field should be retiring any earlier than 67. I mean, really!

 

Let's see what you're saying when you're in your 60s.

[Joe]

They should start the pension reform in the schools. seethroughny will leave you amazed.

 

If you live on LI, your school taxes aren't doing much in the education of children. Rather, they're lining the pockets of ******* "administrators".

 

There's a lot of chiefs around but I don't see any indians...

[KeystoneRegional]

Please, watch the Nazi Banksters Crimes Ripple Effect at http://jforjustice.co.uk/banksters

[lilbluefoxie]

they got this new commercial on the radio with this angry guy ranting about the Cuomo pension plan with this rap music playing in the background, anyone hear this one?

[Joel Up Front]

You're not talking about the PBA ads with Eminem's "Not Afraid" playing, are you?

[lilbluefoxie]

You're not talking about the PBA ads with Eminem's "Not Afraid" playing, are you?

 

that one, I dont listen to rap or hip hop so I have no idea who sings that song.

[INDman]

You don't knee to know the song, just listen to the words and know what corrections officers do.

[lilbluefoxie]

You don't knee to know the song, just listen to the words and know what corrections officers do.

 

oh I know what they do, they're the ones who have to deal with the worst of the city and state on a daily basis. They're the ones who need more respect, not the random bureaucrats that sit behind a desk and do nothing all day.

[Joe]

oh I know what they do, they're the ones who have to deal with the worst of the city and state on a daily basis. They're the ones who need more respect, not the random bureaucrats that sit behind a desk and do nothing all day.

 

lol

[INDman]

oh I know what they do, they're the ones who have to deal with the worst of the city and state on a daily basis. They're the ones who need more respect, not the random bureaucrats that sit behind a desk and do nothing all day.

 

It has nothing to do with respect and everything to do with them getting the pay and benifits they deserve.