Bloomberg Criticizes Unions' Withdrawal From Summit to Protest Pension Plan

Mayor Michael Bloomberg criticized a group of labor unions on Friday for withdrawing financial support from a high-profile legislative summit in Albany over the recent approval of the state's new pension system.

Unions are saying they refuse to participate in the privately funded, two-day conference "Somos el Futuro" sponsored by the Puerto Rican and Hispanic Task Force this weekend because of the pension deal passed in Albany.

"They stood up to special interests, and it's not right that they should get penalized they should be congratulated," Bloomberg said on his weekly WOR-AM radio show.

Michael Mulgrew, president of the United Federation of Teachers, called the Tier VI Pension plan “a backroom deal” – though he didn’t mention the UFT’s main objections: pensions with higher employee contributions and a later retirement age

Bloomberg and Cuomo are each pledging $36,000 to rescue the conference. Cuomo's contribution comes from campaign funds, and Bloomberg's from his personal accounts.

With reporting from Fred Mogul