FOR IMMEDIATE RELEASE
March 15, 2012
STATEMENT OF MAYOR MICHAEL R. BLOOMBERG ON PASSAGE OF PENSION REFORM
“This landmark pension reform package is a huge victory for the taxpayers of New York and for the future of our city and state. As a result of Governor Cuomo’s leadership, City taxpayers will save $21 billion over the next 30 years. Not a single current government worker or retiree will be affected, and not-yet-hired City workers will continue to be able to retire securely, but with pension plans that taxpayers can better afford.
“Skyrocketing pension costs have caused fiscal crises in many cities and counties around New York, cutting into local governments’ ability to deliver core services. That’s why mayors and county executives – from both parties, and from every region in the state – came together to support Governor Cuomo’s plan. I am grateful to the members of New York Leaders for Pension Reform for their advocacy, and to the leaders and members of the State Legislature for hearing us and taking decisive action.
“For nearly a decade, we’ve been sounding the alarm about the growth in pensions, making limited progress through discussions with our unions and beating back proposed sweeteners. But this agreement provides the kind of comprehensive, broad-based relief that we have long sought. It solidifies a first round of major savings achieved when Governor Paterson moved new hires in the Police and Fire Departments into Tier 3, and then more than doubles those savings by making additional reforms to all City pension systems, both uniform and civilian.
“Governor Cuomo has shown extraordinary resolve and deserves an enormous amount of credit for taking on this challenge. Senate Majority Leader Skelos, Assembly Speaker Silver and Assembly Minority Leader Kolb also deserve real credit for stepping up and meeting the challenge. This agreement – which many predicted would never happen – will provide long-term savings that will allow New York City and State to invest in our future and ensure that our best days are still ahead.”
Stu Loeser / Marc La Vorgna (212) 788-2958
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