Gov. Cuomo unveils plan to overhaul pension system

In an effort to make the state's pension system cheaper for taxpayers, Gov. Andrew Cuomo (D-N.Y.) has proposed raising the retirement age for public employees

AMYTIVILLE - In an effort to make the state's pension system cheaper for taxpayers, Gov. Andrew Cuomo (D-N.Y.) has proposed raising the retirement age for public employees from 62 to 65.

In addition, the governor wants workers to contribute 6 percent of their salaries to their pension plan. Currently, most pay 3 percent.

Under Cuomo's proposed plan, overtime will be excluded when a retiree's pension is calculated.

Nassau CSEA President Jerry Larrichuita says employees should have a say in any changes in the pension system. He would like to see Cuomo hold a labor summit with all of the union leaders in the state.

Pension costs have become a major cause for concern for any municipality that has public workers.

"Just 10 years ago, we were paying less than 1 percent of our total payroll into the retirement system," says Amityville School Superintendent John Williams. "Next year, that number is going to be over 11 percent."

It is unlikely legislators will vote on the bill before the summer recess. If passed, the proposed changes would only affect newly hired public employees.

advertisement | advertise on News 12

Top 5 Must See

Riverhead Police arrested 4 men for criminal trespassing 1 Police: 4 in Splish Splash BMX video arrested
Police say a 17-year-old and 15-year-old smashed windows 2 2 teens arrested, accused of vandalizing van in Hauppauge
Dec. 7, 1941 is when 2,400 Americans lost 3 LIers remember attack on Pearl Harbor 75 years ago
In 1942, the Georgian Revival house became a 4 LI Hidden Past: Orphan Tree at Brookwood Hall
News 12's Elizabeth Hashagen took a look at 5 Holiday Help: The Nutcracker

advertisement | advertise on News 12

Features

Need help this holiday season? We've got you Holiday Help Series

Need a gift idea? Perhaps you need a fun idea to do with the kids?

Each week a different shelter visits News 12 Dog Day Fridays Series

Each week a different shelter visits News 12 Long Island with pets up for adoption.

Sorry to interrupt...

Your first 5 are free

Access to News12 is free for Optimum, Comcast®, Time Warner® and Service Electric℠ video customers.

Please enjoy 5 complimentary views to articles, photos, and videos during the next 30 days.

LOGIN SUBSCRIBE