Sentences with phrase «pension padding»

"Pension padding" refers to a practice where individuals artificially inflate their retirement benefits by boosting their salaries or working overtime during their final years of employment. This allows them to receive higher pension payments than what they would have received based on their true earnings. Full definition
And Attorney General Andrew Cuomo has launched an effort to crack down on pension padding in the years leading up to retirement.
AG Andrew Cuomo called the practice of pension padding «chronic» and «unbearable,» adding: «It should have been stopped a long time ago.»
«Our ongoing investigation into pension padding has so far identified problems that transcend occupation, region, or job title,» Cuomo said in a press release.
· Adjustments to Final Average Salary Calculation to Help Reducing Pension Padding: The law changes the time period for final average salary calculation from 3 years to 5 years.
Wearing his AG hat again today, Andrew Cuomo released a preliminary report detailing pension padding abuses uncovered in his ongoing probe and sent out 23 more letters sent to public employers asking for payroll information.
Flanagan a nice guy but he has no onions whatsoever, he just wants to hold on to the trappings of power along with those Skelos thugs who are still on the Senate payroll doing nothing and padding their pensions
But pension padding alone is big money: if just 5 percent of the workforce engaged in the practice, Mr. Cuomo estimates, it would cost the system $ 300 million extra over the next 20 years.
Lawmakers in New Jersey are calling for major reforms in compensation practices for public school administrators in the wake of a scathing report that concludes that millions in taxpayer dollars were spent on lucrative contracts, hidden perks, and pension padding for dozens of superintendents and their top deputies.
While at a news conference in the Manhattan on pension padding, the Democratic candidate for governor dismissed the calls for an investigation, saying he knew of no criminal action by the mosque.
He is expected to talk about his ongoing investigation into pension padding, the idea that public employees manipulate their salaries at the end of their careers to boost their pension benefits.
«We are also pleased that the bill includes provisions that will reduce pension padding and eliminate pension fraud and abuse.
Long Island was the focal point of AG Andrew Cuomo's pension padding investigations, which his GOP opponent, Rick Lazio, referenced in his slam on LG contender Bob Duffy for engaging in what Lazio deemed pension «double - dipping.»
So if the costs are higher for the DC plans, what is wrong with simply offering the DC plan side by side with Tier V if Tier V is tweaked to get rid of the ability to pension pad?
In response to a proposal from County Executive Joanie Mahoney to limit outside income for full - time elected officials, legislators let loose a flurry of their own proposals, including some that target issues like nepotism and pension padding.
The report said there is enough evidence of a pension padding pattern to call for more investigation.
In the letters, Lawsky writes that he will be placing scrutiny on rooting out pension padding, risk management and add controls to prevent conflicts of interest as well as the use of consultants and advisory councils that could generate conflicts of interest.
Cuomo looks at pensions New York State Attorney General Andrew Cuomo has targeted 64 local government agencies, including Syracuse, in an investigation into «pension padding
Attorney general and gubernatorial hopeful Andrew Cuomo is cracking down on pension padding and so - called double - dippers - retirees who take similar jobs while still receiving a pension.
The TU hails Cuomo's preliminary report on pension padding and calls for efforts to curb end - of - career overtime.
These reforms will take major steps toward addressing instances of abuse and pension padding.
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