Wednesday, March 7, 2012

Pension Reform in New York State

Three important links regarding Pension Reform in New York State:

Undoing Andrew

"Sheldon Silver has been speaker of the New York Assembly for going on 19 years now, and not for a moment of his tenure has he been his own man."

Beggared by Benefits

"That reform is modest; it doesn’t apply to current workers, only to state employees hired after the measure becomes law. But for those future employees, it would put in place new contribution requirements and options, including 401(k) plans, that are projected to save taxpayers $79 billion over the next 30 years."

Tier VI Pensions Are Essential

"The plan for Tier VI will save the taxpayers more than $93 billion dollars over 30 years. This pension reform plan is necessary, fair and, remember, doesn't even affect a single current employee."