Pension Sweetener Bills to Cost New Yorkers Millions

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What snuck into Albany’s special legislative session bill without you realizing?

Tax reform? Ethics reform? A resolution to fix the MTA, perhaps?

Nope.

Instead, lawmakers have added numerous pension benefits that will end up costing the state and local governments an estimated $34 million by the end of fiscal year 2018.

A total of 26 pension sweeteners were passed through the bill. The most expensive of which is projected to increase employer costs for New York City by $15.7 million as soon as it goes into effect.

Now, the Citizen’s Budget Commission is calling on the Governor to veto 10 of the 26 measures that passed the Legislature.

The Gotham Gazette reports that the CBC’s criteria to refute the provisions is determining whether the bills enhance benefits “without providing enhanced services to taxpayers or offsetting savings.”

More citizens need to take a cue from the CBC and call out lawmakers’ atrocious spending problem.

These bills will only add to the financial burden weighing down on New Yorkers.

If you think something should be done about the Empire State’s affordability crisis, join Reclaim New York today!