Sentences with phrase «pension tier»

The term "pension tier" refers to a system where different groups of people receive different levels of benefits or contributions for their pensions. Full definition
Despite strong investment returns and two new pension tiers in less than three years, these rates will likely continue to increase in the near future.
Public worker unions are beginning to launch a series of television ads opposing the new, less generous pension tier for future state workers.
He's enrolled in the most generous pension tier system.
He says it's a way for them to take advantage now of future savings from the new sixth pension tier created last year.
This new pension tier means any new hires the state attracts must work harder and longer for a retirement that's significantly less secure than those of their more senior coworkers.
The governor told the county officials that they would have to help him do the lobbying for the new pension tier.
So far, all the big ticket mandate relief items face big obstacles, including the unions, which have pledged to fight tooth and nail against creation of a sixth pension tier.
Governor Cuomo pulled back a bit from his plan to offer, for the first time, a 401k style option for newly hired public workers, saying he's «flexible» on it, but the governor does say he's not bending on the need for a new pension tier with lowered benefits that produces «maximum amount of savings».
Liu attributed the possible change to a new wave of pension tiers that went into effect a few years ago.
Support remains strong — 66 - 29 — for Cuomo's call to create a sixth state pension tier to save government employers money and ask future public employees to contribute more toward their own retirements.
The governor continued his track record of blocking pension sweeteners, such as a proposal that would have let the widow of a police officer killed in 1986 receive his retirement benefits and one to let a Department of Transportation worker retroactively enter into a higher pension tier.
Thanks to a new pension tier enacted in Albany, the city's pension contribution is expected to decline, from $ 8.1 billion in 2014 to $ 8 billion in 2015.
Additionally, lawmakers made a dark deal with Gov. Andrew Cuomo last spring trading support for onerous and unnecessary public employee pension tier changes in exchange for favorable legislative redistricting.
Crowley's proposal would encourage the state to pass a bill creating parity among the different pension tiers for all employees of the uniformed services.
The call for reforming the Martin Act comes amidst a proposal to create a new pension tier in the retirement system, which would reduce pensions for new employees of state and local governments.
Paterson said he will be looking to challenge the «no layoff» memorandum of understanding signed by his administration and the unions in exchange for agreement on creation of a fifth pension tier.
When he had the chance to increase disability benefits three years ago, as part of his 2012 legislation to create a new pension tier called «Tier VI,» he instead maintained cuts that were put in place during the economic downturn in 2009 by his predecessor, David Paterson.
Cuomo also said in his State of the State message that he intends to propose a new pension Tier VI for future workers that offers fewer benefits.
-- A new pension tier based on a defined contribution similar to a 401K plan.
The morning after lawmakers approved a new, cost - saving pension tier for yet - to - be-hired state workers, much of official Albany was sleeping in following the marathon overnight session of debates and votes.
But early on as governor he was at odds with public - sector labor groups, including public employee unions he battled over contract renewals as well as a new, less generous pension tier during his first term.
The governor in New York has more power in the budgetary process, thus making the sixth pension tier more likely as Sen. Neil Breslin, D - Delmar, told me earlier.
Last year Cuomo successfully pushed through a new, less generous pension tier over the opposition of public - sector labor unions.
The former assemblyman is enrolled in the most generous pension tier system, and should collect $ 90,750 a year — more than most New Yorkers make in the private sector.
Donohue also repeated his stance on the proposed Tier VI, a less - generous pension tier designed to save $ 90 billion over the next 30 years.
During his gubernatorial campaign, Cuomo called a new, less expensive pension tier — tier VI — to reduce costs to taxpayers and avoid «spiking» or padding pensions in the last years before retirement.
He says if the governor tries as hard to get campaign finance reform passed as he did to achieve legalization of same sex marriage and a new lowered benefit pension tier for public workers, then the bills can become law this year.
Cuomo tried, and failed, to get a new, less generous pension tier last June, but indicated in his State of the State address that he would try again in 2012.
Harry Wilson is out of the country, but he couldn't help weighing in on the pension reform debate raging back home in New York, where his 2010 opponent, state Comptroller Tom DiNapoli, is under fire for opposing Gov. Andrew Cuomo's call for creation of a sixth pension tier with a 401 (k)- style option for new state employees.
«For instance, the proposal for a new state pension Tier 6 with dramatically reduced benefits and increased employee costs is called a reform, but would be very destructive to public service.
Cuomo also introduced a new, less generous pension tier meant to save tens of billions over the next 30 years.
Much of the legislation he vetoed had similar aims to bills he's opposed throughout his tenure: He has routinely nixed proposals to classify various officials as peace officers and to allow individuals to retroactively enter into a higher pension tier.
Cuomo did not mention anyone by name, but Senator Grisanti's Democratic opponent, Michael Amodeo has said he's against the property tax cap, as well as a new pension tier enacted by Cuomo and the legislature.
«CSEA has no hesitation in saying that the proposal for a new public employee pension tier is an assault on the middle class and a cheap shot at public employees.
Crowley's proposal would create parity among the different pension tiers for all employees of the uniformed services.
DiNapoli has been critical of the governor's push for Tier VI, a new, less generous pension tier for future state workers that includes the option of a 401 (k)- style defined contribution plan.
On the fiscal front, Cuomo urged adoption of a sixth pension tier to save the state money, which is sure to lead to outcries from union leaders.
Bloomberg has backed several measures that Republicans in the chamber put to a vote this year, including a new, less generous pension tier for incoming state workers.
In 2009, a new pension tier with reduced benefits was created for newly hired public employees - called Tier V.
At first blush, it's easy to see how the two could be linked, given business groups» support for the less - generous pension tier for new state workers and the support the minimum wage bill has from unions.
The Democratic - led Assembly and Republican - controlled Senate passed a new, less generous pension tier for yet - to - be-hired public workers.
More than two - thirds of voters support Cuomo's push for a new pension tier for future government employees and more than 70 percent endorsed his plan to link school aid increases to the adoption of an enhanced teacher evaluation process.
Cuomo's use of messages of necessity has come under criticism, most recently after he issued messages in order to swiftly pass a package of bills including a new, less generous pension tier.
Senate Majority Leader Dean Skelos this afternoon cracked open some daylight between himself and Gov. Andrew Cuomo when it comes to his proposal for a new, less generous pension tier that's included in the $ 132.5 billion budget proposal, saying that «we're too tied into the word «Tier Six.»»
The lobbying entity was formed in early 2011 to boost Cuomo's fiscal goals, which included spending reductions, a property tax cap and a new, less generous pension tier.
The Senate leader predicts that the budget will once again be on time, and that the legislature will ultimately approve Cuomo's proposal for a new pension tier with fewer benefits for future workers.
It remains to be seen if the proposal will be tied to measure that is more amenable to the business community, such as the new, less generous pension tier the governor included in the budget.
He offered praise for the New York State legislature and Governor Cuomo for approving a less generous pension tier for new hires last year, but claims it did not go far enough.
The new pension tier is part of Cuomo's budget proposal.
Cuomo would not answer a question on whether he'd accept a spending plan from the legislature that does not include the pension tier, saying, «we'll negotiate a budget as we go along».

Phrases with «pension tier»

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