The next phase
of public pension reform will likely be touched off by a stock market decline that creates the real possibility of at least one state fund running out of cash within a couple of years.
The point
of public pension reform is to reduce the risk for New York taxpayers, who — in addition to their own financial concerns — now stand behind a constitutional guarantee of defined - benefit pensions for all current and future state and local government retirees.
Meanwhile, things that could address systemic problems and save the city and state real money,
including public pension reform, get shouldered off the road in favor of transient quick fixes like taxes on soda and cigarettes.
Cuomo has said that
public pension reform will be his top goal for 2012.
Robert Costrell «GASB Won't Let Me» — A False Objection to
Public Pension Reform.
Public pension reform has been a key issue at federal - provincial finance ministers» meetings at least since 2010, with officials having looked at three major proposals for Canada Pension Plan enrichment.
This works well because of
public pension reforms.