For years, exploding pension costs stood as one of the most persistent threats to local governments and hardworking taxpayers across our State. Yet, all too often, New Yorkers’ calls for real pension reform went unanswered in Albany. As a state-wide advocate for mandate relief, I commend Governor Cuomo for bringing Tier VI pension reform through to fruition. I also recognize and thank the members of the State Legislature who voted in support of this vital legislation for matching the Governor’s conviction.
Whenever landmark reform is made, those who represent the status quo will resist progress. The facts, however, cannot be denied. Governor Cuomo’s Tier VI pension reform plan will save local governments billions of dollars over the long term, providing stability for future generations of New Yorkers. Moreover, now that real pension reform is a reality, it is incumbent upon those responsible for managing New York’s pension fund to build on this progress by striving to always put the taxpayer first – a commitment that has been lacking for the past several years.