Cuomo on Reducing Pensions: No Position Yet

Tuesday, July 06, 2010 - 03:40 PM


The New York Post has an entertaining front-page story today about a pretty healthy fireman who collects disability pension payments. For critics, it’s the latest example of pension abuse that’s driving the state broke.

In a scrum with reporters today, Andrew Cuomo was asked if he supports moving away from a defined-benefit system to a defined-contribution system.

Interestingly, Cuomo said “I don’t have a position on a specific option.”

Later, he said however costs are reduced, it’ll likely have to be an option that labor unions agree to, rather than something lawmakers pass over the union’s objections.

Here’s part of what Cuomo said on this topic today:

“We’re going to need to really explore ways to reduce the costs of the pensions.”

“There are a number of options that have been bandied about and part of the process is going to be putting everyone in a room and figuring out how do we actually reduce the costs.”

“I don’t have a position on a specific option, but the strategy is going to have to be to reduce the costs.”

“I think the best way to do this is to do it cooperatively; to do it mutually.”


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