Syracuse Mayor Stephanie Miner said she won’t support a pension-smoothing plan agreed to by the state’s pension funds, Gov. Andrew Cuomo and legislative leaders.
“We cannot solve the fiscal crisis facing the local governments of New York by borrowing,” Miner said in a statement today. “Unfortunately, the new ‘alternate contribution pension stabilization program’ is just that: another mechanism for borrowing.”
The Democratic mayor has been critical of Cuomo’s pension proposal and wrote an op-ed piece in the New York Times on Feb. 14 to call on Cuomo to provide more leadership to help upstate cities.
Cuomo’s proposal would have let local governments and schools to smooth out growing pension costs over 25 years, essentially recouping future savings from a new pension tier now. The agreement in the budget would lower the terms to 12 years and include interest.
Comptroller Thomas DiNapoli and the Teacher’s Retirement System are planning to approve the plan.
Miner isn’t on board, though. She is also co-chair of the state Democratic Committee — a position Cuomo appointed her to.
“We need fundamental, structural reforms to overcome the impending collapse of our financial structure,” Miner said in the statement.
“Governor Cuomo is a strong leader and has enormous political capital. We are all New Yorkers and we need the governor to bring all parties to the table and lead a discussion on solving the long term fiscal health of our municipalities and our state.”