Mayors, County Executives Urge Pension Reform in Albany

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Mayors and county executive across New York warned Wednesday that local governments face a dire fiscal picture if the state doesn’t lower growing pension costs.

Monroe County Executive Maggie Brooks said local governments could face bankruptcy without pension reform. New York City Mayor Michael Bloomberg said more city money goes to retirees’ pensions than police, fire and sanitation services combined.

Public employees’ unions are opposing Cuomo’s push, arguing that a new pension tier was implemented just two years ago.

“Wall Street nearly melted down the economy and got bailed out, but future nurses, teachers, highway workers and school bus drivers are supposed to give up hope of retirement security,” said Stephen Madarasz, spokesman for the Civil Service Employees Association, the state’s largest public-employees union with 265,000 members.

“The threat of bankruptcy hangs over every single municipal government in this state because of escalating pension costs,” Brooks said. “The facts are clear, and the facts are very disturbing.”

The growing pension expenses have prompted some municipalities to borrow off the state pension fund to cushion their annual payments. About $200 million was amortized this year by 162 entities that have public employees, according to the state Comptroller’s Office. That’s up from nearly $44 million in 2011.

White Plains Mayor Thomas Roach said borrowing to pay for pension costs is bad fiscal policy, but an indication of how serious the problem is.

“The road to hell is paved in amortizing pensions,” he said. “All you are doing is taking a current operating cost and pushing it down the line.”

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6 Comments

  1. Mmell the 21st Century is all around you.

    We are living longer and longer.

    People born today may live to be 150 Years or more,

    Could babies born today live to 150?
    http://www.cbsnews.com/8301-505269_162-57373788/could-babies-born-today-live-to-150/

    We need a municipal pension plan that reflects that scenario and “OTHERS” ones regarding how long we and our children will live in the 21st Century

    You could work for 100 years and retire at 125, think about it

    Before there was the “Oracle of Delphi” there was Count Vampire J. Machiavelli

    VJ Machiavelli

  2. The teachers’ and municipal unions would prefer they work 15 years and retire for the next 65 at tax-free quadruple pay with extra health care carry-forwards that they can sell on the open market.

  3. This ain’t no mandate relief…it’s a big joke. Cuomo could barf on the carpet and all you morons would call it “reform”. Every one of you is s-c-a-r-e-d of him.

  4. Good! We need a scarer- in- chief to keep all the (speaking of morons,) wild indians from driving us further into bankruptcy. He is, and always has been, a leftist ideologue, but even HE understands that we’re deep into the morass of crisis, one that has yet to be explained to the American people – the reason? – in order to keep them from panic.

  5. Cuomo is nothing more than a POLITICIAN…When hes not kissin your babies..Hes stealing their lillipops. You want to reform NYS budget on the backs of the middle class? Where does it end. I work for a municipal govt, and i will depend on my pension for my retirement. Its ok to bail out the REAL MORONS (Big Business, Wall Street) but screw the middle class (The 99%). Noone asks to work for 15 years and retire. Everyone thinks that the sole reason for budget woes are from pensions and salaries. Well, i have an idea for all you idiots. PUT OUT YOUR OWN FIRE, MAKE A CITIZENS ARREST, BURY YOUR GARBAGE IN YOUR BACKYARD, TEACH YOUR OWN DAMN KID, CLEAN UP YOUR OWN STREET, COLLECT RAINDROPS TO DRINK. These are all essential people who work for you..Instead of mockng them and using them as punchlines..COME OUT AND DO IT FOR YOURSELF!!!! Morons…

  6. Did he steal your lillipop? Your overpaid, illiterate self should be able to afford a new lillipop.