Real pension reform on tap in New York?

By E.J. McMahon on January 17, 2012 10:17 AM | No Comments | No TrackBacks

Today's New York Daily News reports Governor Cuomo will propose a defined-contribution option as part of a pension plan to be unveiled as part of the 2012-13 state budget the governor will unveil later today. Specifically, says the News, "all new state and city workers, including police and firefighters, would have to choose between enrolling in a 401(K) plan or getting pension benefits that are less generous than those currently offered, sources say."

As always, the details are important. Based on this initial description, Cuomo may be headed in a very positive direction. More to follow.

Categories:

No TrackBacks

TrackBack URL: http://www.publicsectorinc.com/cgi-bin/mt/mt-tb.cgi/651

Join the conversation

Center for State and Local Leadership

PublicSectorInc.org is a project of the Manhattan Institute's Center for State & Local Leadership.
Copyright © 2013 Manhattan Institute for Policy Research, Inc. All rights reserved.
52 Vanderbilt Avenue, New York, N.Y. 10017
phone (212) 599-7000 / fax (212) 599-3494