Sentences with phrase «local government pension bills»

Not exact matches

More than 90 pension - and benefit - sweetener bills have been introduced in the state Legislature that could cost state and local governments at least $ 200 million.

The bill allowing all veterans to buy added pension time was vetoed by Cuomo last year because, notwithstanding a clause in the governor's Tier 6 pension reform, it failed to appropriate money to cover the projected state and local government share of the «past service» catch - up cost of the measure.

When investment returns tanked during the great recession, local governments were forced to pay more of this pension bill.

Cuomo's veto message on Friday said the bill would create $ 57 million in «near - term commitments» for local governments by failing to establish a state funding stream for the added pension time.

More than 90 pension - and benefit - sweetener bills have been introduced that could cost state and local governments at least $ 200 million.

Officials said that's led to some of the highest property taxes in the country as local governments struggle to keep up with their exploding pension bills.

Calling it an «oppressive unfunded mandate» that would impose $ 57 million in «near term obligations» on local governments across New York State, Governor Cuomo has vetoed a bill that would have allowed public employees to claim up to three years worth of pension service credit for time spent in military duty.

The result is that local government workers, faced with an average additional 3 % increase in their contributions which will then yield a much reduced pensions, are likely to abandon the local government pension scheme in droves as no longer worthwhile, thus adding to the State's welfare bill in retirement and perhaps collapsing the investment funds which this pension scheme feeds.