Gov. Andrew Cuomo just unveiled his version of pension reform in New York State. Consistent with leaks from the governor's office last month, as noted here at the time, it preserves the defined-benefit system in every respect, with lower benefit levels, higher retirement ages and higher employee contributions. In short, Cuomo's proposal is a disappointment and a lost opportunity to push for genuine structural reform.
The issue is not expected to see action in the two weeks remaining in New York's legislative session, but Cuomo's bill represents the start of the next stage of the pension policy debate in the Empire State.
The issue is not expected to see action in the two weeks remaining in New York's legislative session, but Cuomo's bill represents the start of the next stage of the pension policy debate in the Empire State.
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