Sentences with phrase «allow pension smoothing»

Miner has been critical of a Cuomo proposal to allow pension smoothing.

Not exact matches

Miner has been critical of the pension smoothing plan that Cuomo proposed in his initial budget plan that allows local governments to lock in stable rates now at the expense of future savings down the road.

The state Legislature recently approved a «pension smoothing» program that allows municipalities to pay less now and more later, but Miner has been critical of the concept since Gov. Andrew Cuomo proposed a similar plan in January.

Our Karen DeWitt asked the Assembly leader if he was in favor of the «pension smoothing» plan outlined by the governor that will allow local governments to lock in a rate now to reduce current payments while defering a portion of the costs down the road.

Under pension smoothing, municipalities would be allowed to make fixed pension payments for 25 years.

It is possible to design DB plans that keep the investment risk with the employer, but allow smoother and fairer accrual of pension wealth for educators.

Unlike the current system, which features large financial incentives for teachers to retire precisely at a pre-determined age (New York City teachers who begin at age 25 currently hit peak pension wealth at age 63), the new system would offer teachers a smooth wealth accrual that would allow them to time their retirement decisions as they saw fit.