County supports pension reform
NORWICH – Town of Pharsalia Supervisor Dennis Brown on Monday called for Chenango County to send a message to state officials that it is in favor of Gov. Andrew Cuomo’s proposed Tier VI pension reform plan.
The plan is only for new government employees, raises the retirement age and provides the option of allowing workers to enter into a defined contribution plan similar to a 401(k) in the private sector.
An umbrella group backing the governor’s budget proposal said it would provide $79 billion in statewide savings over 30 years. However, labor unions and even New York Comptroller Tom DiNapoli have criticized the plan. The comptroller reportedly said the state’s pension system is fully funded and not in a crisis.
Speaking at this month’s Chenango County Board of Supervisors meeting, Brown said the government’s retirement system should be set up like that of a business.
“I’m opposed to going into the union if you don’t have to. We are always on the hook for more money and it will be for a longer period of time because people are living longer,” he said.
Fellow Democrat Peter C. Flanagan of Preston seconded Brown’s motion to send such a letter to state officials in favor of Tier VI. While admitting that he doubted anyone would choose the plan, he said employees should be able to “go on their own” instead of joining labor unions.
During discussion, Town of German Supervisor Rick Schlag, also a Democrat, argued that 401K plans do not guarantee a pre-determined package because they are dependent upon equities markets.
“Retirement should be sure,” he said.
But Brown said the county must “do something” or just let the state’s retirement system “go bankrupt.”
“We are getting close now, to paying for retirement, to what we pay to those who are working,” he said. The board unanimously agreed to write a letter to the state’s regional representatives.
Heather Briccetti, president and chief executive officer of The Business Council of New York State, Inc., said yesterday that pension costs across the state are pushing taxpayers to a tipping point.
“Taxpayers are already struggling under the burden of existing pension obligations, and the Tier VI proposal will avoid this in future years without taking benefits away from anyone currently in the pension system,” she said.
The plan is only for new government employees, raises the retirement age and provides the option of allowing workers to enter into a defined contribution plan similar to a 401(k) in the private sector.
An umbrella group backing the governor’s budget proposal said it would provide $79 billion in statewide savings over 30 years. However, labor unions and even New York Comptroller Tom DiNapoli have criticized the plan. The comptroller reportedly said the state’s pension system is fully funded and not in a crisis.
Speaking at this month’s Chenango County Board of Supervisors meeting, Brown said the government’s retirement system should be set up like that of a business.
“I’m opposed to going into the union if you don’t have to. We are always on the hook for more money and it will be for a longer period of time because people are living longer,” he said.
Fellow Democrat Peter C. Flanagan of Preston seconded Brown’s motion to send such a letter to state officials in favor of Tier VI. While admitting that he doubted anyone would choose the plan, he said employees should be able to “go on their own” instead of joining labor unions.
During discussion, Town of German Supervisor Rick Schlag, also a Democrat, argued that 401K plans do not guarantee a pre-determined package because they are dependent upon equities markets.
“Retirement should be sure,” he said.
But Brown said the county must “do something” or just let the state’s retirement system “go bankrupt.”
“We are getting close now, to paying for retirement, to what we pay to those who are working,” he said. The board unanimously agreed to write a letter to the state’s regional representatives.
Heather Briccetti, president and chief executive officer of The Business Council of New York State, Inc., said yesterday that pension costs across the state are pushing taxpayers to a tipping point.
“Taxpayers are already struggling under the burden of existing pension obligations, and the Tier VI proposal will avoid this in future years without taking benefits away from anyone currently in the pension system,” she said.
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