{"id":429700,"date":"2022-04-11T02:36:15","date_gmt":"2022-04-10T23:36:15","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/hochul-lawmakers-roll-back-pension-reform-in-220b-budget\/"},"modified":"2022-04-11T02:36:15","modified_gmt":"2022-04-10T23:36:15","slug":"hochul-lawmakers-roll-back-pension-reform-in-220b-budget","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/hochul-lawmakers-roll-back-pension-reform-in-220b-budget\/","title":{"rendered":"#Hochul, lawmakers roll back pension reform in $220B budget"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a23b12c69933\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a23b12c69933\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/hochul-lawmakers-roll-back-pension-reform-in-220b-budget\/#%E2%80%9CHochul_lawmakers_roll_back_pension_reform_in_220B_budget%E2%80%9D\" >&#8220;Hochul, lawmakers roll back pension reform in $220B budget&#8221;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9CHochul_lawmakers_roll_back_pension_reform_in_220B_budget%E2%80%9D\"><\/span>&#8220;Hochul, lawmakers roll back pension reform in $220B budget&#8221;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div>\n<aside class=\"single__inline-module alignleft\">\n<\/aside>\n<p>Gov. Kathy Hochul and lawmakers quietly delivered a gift to public employee unions \u2014 by partially rolling back the decade-old pension reforms that curbed runaway costs to taxpayers and overtime abuse, The Post has learned.<\/p>\n<p>The rollbacks were tucked into the record-breaking $220 billion election-year state budget in a deal reached last week.<\/p>\n<p>\u201cIt looks like \u2018big labor\u2019 got things they were seeking and rolling back pension reform is one of them,\u201d said Peter Warren, research\u00a0director with the Empire Center for Public Policy.<\/p>\n<p>The pension laws <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>roved in 2010 and 2012 required new state and local government workers hired under new Tiers 5 and 6 to work 10 years to be vested in the pension system instead of five years, as is the case for previously hired employees.<\/p>\n<p>But under the new budget, the vestment requirement is dialed back to 5 years for Tier 5 and 6 employees, which consist of most occupations other than police and firefighters.<\/p>\n<p>It also waives overtime costs for Tier 6 workers \u2014 who were previously thrust into a higher contribution bracket, requiring them to pay more toward their retirement account \u2014 for the next two years.<\/p>\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" loading=\"lazy\" width=\"1024\" height=\"682\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/04\/Hochul-pension-plan2.jpg?w=1024\" alt=\"The changes to the pension laws were included in the $220 billion budget that was agreed to last week.\" class=\"wp-image-21850434\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/04\/Hochul-pension-plan2.jpg?quality=75&amp;strip=all&amp;w=1535 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/04\/Hochul-pension-plan2.jpg?quality=75&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/04\/Hochul-pension-plan2.jpg?quality=75&amp;strip=all&amp;w=512 512w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption>The changes to the pension laws were included in the $220 billion budget that was agreed to last week.<\/figcaption><figcaption><span class=\"credit\">AP Photo\/Hans Pennink<\/span><\/figcaption><\/figure>\n<p>Legislative sources said the move would cost taxpayers at least $11 million this fiscal year alone.<\/p>\n<p>\u201cThis is a step back for the state. The changes to Tier 5 and 6 were huge victories for taxpayers,\u201d said Warren.<\/p>\n<p>The Cuomo-era pension changes approved in 2012\u00a0imposed a progressive payment system \u2014 employees who made more paid a higher percentage of their compensation toward their pension.<\/p>\n<p>\u201cThat was done to address overtime abuse \u2014 workers gaming the system to boost their overtime and pension before they retire,\u201d said a source who worked with Cuomo.<\/p>\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" loading=\"lazy\" width=\"1024\" height=\"682\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/04\/Cuomo-pension-plan.jpg?w=1024\" alt=\"The pension reforms passed in 2010 and 2012 under former Gov. Andrew Cuomo were intended to cut taxpayer expenses and overtime fraud.\" class=\"wp-image-21850441\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/04\/Cuomo-pension-plan.jpg?quality=75&amp;strip=all&amp;w=1535 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/04\/Cuomo-pension-plan.jpg?quality=75&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/04\/Cuomo-pension-plan.jpg?quality=75&amp;strip=all&amp;w=512 512w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption>The pension reforms passed in 2010 and 2012 under former Gov. Andrew Cuomo were intended to cut taxpayer expenses and overtime fraud.<\/figcaption><figcaption><span class=\"credit\">Gabriella Bass<\/span><\/figcaption><\/figure>\n<p>This came at a time when workers\u2019 overtime abuse \u2014 and sometimes fraud \u2014 ran rampant in the state, including within the MTA\u2019s Long Island Rail Road service.<\/p>\n<p>Under the reforms, workers who earned between $45,000 and $55,000 had to contribute 3.5% of their compensation\u00a0toward their pension. Workers making between $55,000 and $75,000 contributed 4.5%. Employees collecting between $75,000 and $100,000 contributed 5.7% and those earning over $100,000\u00a0contributed 6%.<\/p>\n<p>One pension analyst said the changes have saved taxpayers a bundle.<\/p>\n<p>\u201cThe reforms have saved billions of taxpayer dollars for the state and local governments over the past decade \u2014 including $1 billion this year alone \u2014 plus significant added savings for New York City\u2019s separate pension systems,\u201d EJ McMahon, an adjunct fellow for the Manhattan\u00a0Institute, recently wrote in\u00a0a Post column.<\/p>\n<p>Warren noted that even under the Cuomo reforms \u2014 which came over the objections of public employee unions \u2014 the state\u2019s pension plan was still more generous than that in the private sector.<\/p>\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" loading=\"lazy\" width=\"1024\" height=\"682\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/04\/Hochul-pension-plan3.jpg?w=1024\" alt=\"Hochul's budget is a gift to &quot;big labor,&quot; according to some experts.\" class=\"wp-image-21850463\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/04\/Hochul-pension-plan3.jpg?quality=75&amp;strip=all&amp;w=1535 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/04\/Hochul-pension-plan3.jpg?quality=75&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/04\/Hochul-pension-plan3.jpg?quality=75&amp;strip=all&amp;w=512 512w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption>Hochul\u2019s budget is a gift to \u201cbig labor,\u201d according to some experts.<\/figcaption><figcaption><span class=\"credit\">AP Photo\/Hans Pennink<\/span><\/figcaption><\/figure>\n<p>\u201cWhy go back? There\u2019s no recruitment crisis,\u201d Warren said, questioning Hochul\u2019s partial rollback.<\/p>\n<p>Hochul spokesman Avi Small said, \u201cGovernor Hochul worked with the legislature to deliver a budget that makes bold, fiscally responsible investments to attract and retain hard-working public servants\u00a0while \u2014 for the first time in history \u2014 putting New York on stable fiscal footing by setting aside more than $5.1 billion in our reserves.\u201d<\/p>\n<p>Lawmakers want to go even further to chip away at pension reform.<\/p>\n<p>\u201cIt\u2019s a good start,\u201d said Assemblyman Peter Abbate, chairman of the committee on government employees that oversees pension legislation.<\/p>\n<p>\u201cThe unions were active pushing for changes and so was I.\u201d<\/p>\n<p>Abbate said he wants to reduce the pension\u00a0contributions for all government workers to 3% from a high of 6%,\u00a0depending on salary.<\/p>\n<p>\u201cEveryone should pay 3%,\u201d he said. \u201cTo me, that would be fair.\u201d\n                        <\/p><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/news\/\" target=\"_blank\" rel=\"noopener\">News category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/nypost.com\/2022\/04\/10\/hochul-lawmakers-roll-back-pension-reform-in-220b-budget\/\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;Hochul, lawmakers roll back pension reform in $220B budget&#8221; Gov. Kathy Hochul and lawmakers quietly delivered a gift to public employee unions \u2014 by partially rolling back the decade-old pension reforms that curbed runaway costs to taxpayers and overtime abuse, The Post has learned. The rollbacks were tucked into the record-breaking $220 billion election-year state&#8230;<\/p>\n","protected":false},"author":1,"featured_media":429701,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/04\/Hochul-pension-plan.jpg?quality=75&strip=all&w=1024","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[7309,127817,70430,51697,98806,73779,76866,71452,77737,73428,70786],"class_list":["post-429700","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-unions","tag-4-10-22","tag-andrew-cuomo","tag-budget","tag-kathy-hochul","tag-legislature","tag-lirr","tag-mta","tag-overtime","tag-pensions","tag-state-budget"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/429700","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=429700"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/429700\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/429701"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=429700"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=429700"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=429700"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}