Sentences with phrase «for pension smoothing»

Conservatively speaking, he said, the cost to governments that opt for pension smoothing — the numbers that appear in the highlighted column in the spreadsheet below — could very well more than double once law enforcement and teachers» pension costs are factored in.

Not exact matches

The two campaigns have traded barbs in recent weeks over a controversial amortization plan that Wilson characterizes as borrowing from the pension fund and DiNapoli's camp insists is merely «smoothing» to provide predictability for local governments and the state when it comes to contributions.

It's easy for you Mr. DiNapoli to say Pension Smoothing is an accounting gimmick that would leave pension funds exposed, but in the end it's likely the last window of opportunity that a City like Syracuse, NY had to get their house inPension Smoothing is an accounting gimmick that would leave pension funds exposed, but in the end it's likely the last window of opportunity that a City like Syracuse, NY had to get their house inpension funds exposed, but in the end it's likely the last window of opportunity that a City like Syracuse, NY had to get their house in order.

The win for central New York comes after Miner, a former state Democratic Committee co-chairwoman, has publicly criticized Gov. Andrew Cuomo's policies, including his proposal to smooth out pension costs as a way to alleviate local government costs.

Since then, she has co-chaired his transtition committee, become a NYPA trustee and been a staunch advocate for a number of his policies, including his controversial pension smoothing proposal that has caused so much friction between Cuomo and his hand - picked state Democratic Party co-chair, Syracuse Mayor Stephanie Miner.

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

Using the State Pension fund to legitimately lend the State money as an investment rather than the State issuing bonds for smoothing spending is an intelligent idea, but with the same terms and conditions as any bond issuance would have.

It is not a surprising development, given that Richards has been a strong supporter of the Cuomo administration, including Cuomo's push for pension reform that included the controversial smoothing proposal this year as well as gun control.

Cuomo has not endorsed in the race for Syracuse mayor where his hand - picked party co-chairwoman is running for re-election (the two have publicly differed on Cuomo's pension smoothing proposal), though he did endorse Buffalo Mayor Byron Brown for re-election.

Lt. Gov. Bob Duffy, who has emerged as the leading defender of Gov. Andrew Cuomo's mandate relief proposals for struggling upstate cities, told Alan Chartock in an interview to air Friday that he would more than pleased with the pension smoothing proposal if he held his old job as the mayor of Rochester.

It's especially important now for the Cuomo administration to have Duffy defending the pension smoothing plan as Syracuse Stephanie Miner, the state Democratic Party co-chairwoman, is opnely skepitcal of it.

The Cuomo administration had already attacked her for questioning the pension - smoothing idea.

Figure 2 contrasts with the relatively smooth accrual that would occur with a cash balance pension plan (see our EFP paper for an explanation of this type of program, used by many large private employers and a few public employers).

Clearly, the accumulation of pension wealth is not smooth and steady, but rises with fits and starts after age 50, due to rules of eligibility for early retirement and the like.

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.

Your clients include some of the world's most prestigious funds of funds, global investment banks, state government pensions, world leading private foundations, insurance companies, private equity - styled real estate funds and sovereign wealth funds; can you walk Lawyer Monthly through how you prepare yourself for these clients, to ensure the process is smooth for them?