Sentences with phrase «pension smoothing»

The Citizens Budget Commission, a NYC - based budget watchdog organization, has added its voice to the list of those calling for rejection of Gov. Andrew Cuomo's controversial pension smoothing proposal, warning it has the potential to «endanger the future financial viability of the pension plans.»

He famously joined forces with Syracuse Mayor and State Democratic Party Co-Chair Stephanie Minor to oppose the governor's pension smoothing plan for municipalities.

Mayor Stephanie Miner said the new estimate confirms her criticism of pension smoothing, a fixed - rate payment option Gov. Andrew Cuomo proposed a month ago in his budget.

But she became critical of the governor's proposals for pension smoothing and later for what she saw as inadequate spending on upstate infrastructure.

Cuomo aides have suggested that Miner ask for a state control board if she doesn't like pension smoothing.

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.

In fact much of today's current highway program is funded on budgetary schemes such as pension smoothing which allow companies to forgo tax deductible payments into their employee's 401k programs, and then use the increased tax revenue for roads.

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

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 in order.

The governor's recent pension smoothing plan has made the strength of the pension fund a hot topic of late.

ICYMI: For the moment, Assembly Speaker Sheldon Silver is declining to choose sides in the fight over pension smoothing, which has divided his former Democratic conference member, state Comptroller Tom DiNapoli, and Gov. Andrew Cuomo.

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

But Duffy says the near - term and longer - term mandate relief proposals for struggling cities and local governments recommended by Cuomo — including the criticized pension smoothing proposal — will help.

But Syracuse Mayor Stephanie Miner says her skepticism of Cuomo's pension smoothing plan is an exaggeration of the press and that her relationship with the governor remains «professional.»

Even the mayors of Rochester and Yonkers, with whom Miner has collaborated for months, disagree with her criticism of pension smoothing.

... That was lead of David Rubin's column in today's Syracuse Post-Standard, in which he sided with the city's mayor, Stephanie Miner, in her ongoing verbal battle with Gov. Andrew Cuomo over the governor's controversial pension smoothing proposal.

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.

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.

Cuomo called the maneuver «pension smoothing.»

For example, Masterpole said the mayor was right to opt out of a pension smoothing plan proposed by Cuomo in 2013.

While Gov. Andrew Cuomo's hand - picked Democratic co-chairwoman Stephanie Miner is skeptical that the pension smoothing proposal in his budget will help her city save money, Republican Onondaga County Executive Joanie Mahoney is praising the idea.

Miner wrote an op - ed for the Times explaining her opposition to the «pension smoothing» scheme; the night it was going to press, Cuomo's aides called the paper's editors trying to get the essay killed, to no avail.

The new minimum wage proposal in the Assembly is backed by Labor Committee Chairman Carl Heastie and Assemblyman Keith Wright, the state Democratic Party co-chairman (his other party co-chair, Syracuse's Stephanie Miner, broke with Cuomo on his pension smoothing plan that is also in the budget).

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.

Syracuse's Mayor Stephanie Miner's falling out with Gov. Cuomo, where she failed to publicly extort a bailout for the City of Syracuse is now cost the City of Syracuse big time, in areas like pension smoothing where it's estimated she could have saved 12 million if she just was receptive to Gov. Cuomo's «Pension Smoothing» plan instead of rejecting it out of hand; and as I pointed out last year she would live to regret that mistake.

She and Cuomo have not spoken about the pension smoothing proposal, and she has not been approached about resigning the post.

At the same time, Cuomo pushed through with some alterations a pension smoothing plan that had been opposed by Syracuse Mayor Stephanie Miner, the governor's hand - picked Democratic Party co-chairwoman.

After Miner went public with her criticism of the pension smoothing plan, a whole host of people have felt sufficiently comfortable (safe?)

Mark Assini, supervisor of the Monroe County town of Gates and a financial analyst, has crunched the numbers of Gov. Andrew Cuomo's pension smoothing proposal and come to the conclusion that, as he put it during a telephone interview this afternoon: «Stephanie is right; she is absolutely right to question this.»

Cuomo declined to endorse in Miner's primary race following a year of very public disagreement over the governor's pension smoothing proposal.

Gov. Andrew Cuomo pushed back against the criticism of his pension smoothing proposal and took particular aim at Comptroller Tom DiNapoli's critique of the proposal in an interview with Fred Dicker on Talk - 1300 this morning.

Miner said officials from Cuomo's office and the budget division have promised to provide the city with detailed analyses of the pension smoothing option, so they can better analyze its impact.

Vossler's analysis is similar to one prepared last week by Gates town Supervisor Mark Assini, who joins Miner in raising concerns about the pension smoothing proposal.

SYRACUSE, N.Y. — Pension smoothing would cost Syracuse at least $ 124 million in extra pension payments over the next 25 years, according to an analysis prepared by the city budget department.

Miner said she agrees with critics who have raised fears that pension smoothing could undercut the financial stability of the pension fund.

But Peters acknowledged there may be a cost to pension smoothing.

For pension smoothing to occur, the Legislature would have to approve it; then the state comptroller and the state teachers retirement system trustees would have to agree to implement it.

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.

Pension smoothing will not solve their problems, she said.

Both have embraced the «pension smoothing» proposal that Miner called a gimmick.

Both sides are digging in their heels in the fight over Governor Cuomo's pension smoothing proposal.

Miner said the city's decision in 2013 to forgo «pension smoothing» is paying off and is expected to save Syracuse $ 10 million over the long term.

Rochester Mayor Thomas Richards said he liked the pension smoothing plan, which could save $ 76.4 million for the city in the first five years, according to the governor's projections.

Pension smoothing was a 25 - year payment plan offered by Gov. Andrew Cuomo to help municipalities defer soaring pension costs by paying them in future years.