Sentences with phrase «reduce public pension»

The governor, in his budget proposal, wants a new benefit tier that offers the choice of a reduced public pension or a 401k style plan, but he says he's open to discussions.

And with continual pressure to reduce the public pensions bill, it's not out of the question that future rule changes will leave you worse off — not to mention the fallibility of projecting so far in the future (demonstrable by the wildly varying pension pot estimates).

Not exact matches

«It's a longer - term issue,» Brainard said of the trend by public pension funds to reduce their targets.

He noted that «about two - thirds of the public pension funds that we follow have reduced their return assumptions since 2008, some more than once.»

But a contrary example is in Texas, where a major public pension fund so far has avoided joining the trend of reducing investment projections.

For example, the largest U.S. pension, California Public Employees» Retirement System, is considering more than doubling its bond allocation to reduce risk and volatility as the bull market in stocks approaches nine years.

Public and private pension funds reducing private equity exposure or freeing up capital for other purposes;

The proposal is to reduce the return of the public pension fund from eight percent to seven percent.

«The shadow chancellor has wrapped up public sector cuts, public sector pay freezes, a rise in retirement age and reduced pension rights in warm words that will ring hollow with Britain's army of public sector workers.»

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.

Cuomo did call for some things that will be unpopular with public employee unions (freezing pay, creating a Tier VI in the pension fund, reducing the size of state government — a move that will undoubtedly necessitate job cuts, but he makes no mention of that I can find in «The New NY Agenda: A Plan for Action»).

The governor assented to a constitutional amendment, which let legislators draw districts that will stand until 2022, in exchange for legislative action on reducing pensions for newly hired public employees and authorizing seven casinos.

According to the report, despite the convictions, Percoco is eligible to collect $ 36,000 a year in pension money, despite a new law that was passed in the fall that would authorize a judge to cut or reduce pension payments for public officials found guilty of a felony crime, but since Percoco's crimes were committed before Jan. 1, he will not be stripped of his payments.

In doing so, they are heeding Boris Johnson's calls for a «citizen's wealth fund»: last October, London's mayor proposed pooling some of the UK's 39,000 public pension funds into a single investment fund large enough to reduce the country's dependence on foreign investment and close its infrastructure financing deficit.

Malliotakis» expressed view matches that of much of organized labor, opposing a convention on fears that it could result in weakening or eliminating the existing state constitution's prohibition on reducing public employee pensions.

A November ballot proposition would amend the state constitution to allow judges to reduce or revoke a pension of a public official convicted of a felony related to his or her duties.

The new coalition government in Britain has begun a process of attacking working class living standards through public spending cuts, slashing public services and reducing public sector pay, jobs and pensions.

In 2012, he pushed to reduce pension benefits for new public employees in exchange for allowing legislators to draw their own district lines, breaking a campaign promise to reformers and helping Republicans retain their grip on power in the state Senate.

Gov. Andrew Cuomo has pushed to reduce the cost of state's public pension system by successfully advocating for a new retirement level, Tier Six.

· Allowing counties an option to modify how they fund state mandated pension contributions · Providing counties more audit authority in the special education preschool program · Improving government efficiency and streamlining state and local legislative operations by removing the need for counties to pursue home rule legislative requests every two years with the state legislature in order to extend current local sales tax authority · Reducing administrative and reporting requirements for counties under Article 6 public health programs · Reforming the Workers Compensation system · Renewing Binding Arbitration, which is scheduled to sunset in June 2013, with a new definition of «ability to pay» for municipalities under fiscal distress, making it subject to the property tax cap (does not apply to NYC) where «ability to pay» will be defined as no more than 2 percent growth in the contract.

No - one really wanted to set out where the cuts will hit, and we had diversionary tactics such as talking about public sector pensions for the few very well paid public sector staff that won't make any real contribution to reducing the deficit.

In 2009, a new pension tier with reduced benefits was created for newly hired public employees - called Tier V.

Cuomo has been at odds with public workers on several fronts, pushing for a cap on local property tax increases and reducing pensions for new 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.

Cohen supports the Business Council's Enough Already NY campaign's Five to Survive economic reform agenda which includes: a property tax cap; a state spending cap; reducing the tax burden; reforming public employee pensions and limiting government borrowing.

Public employee unions were angry with the governor for reducing pensions benefits for new workers, and teachers were upset over a property tax cap, which impacts school budgets, and test - based evaluations.

Pay freezes and below - inflation pay rises have reduced public sector workers» pay by 20 % since the coalition came to power in 2010, public sector pensions have been attacked and public services have been slashed across the country.

The government is aiming to reduce its pension bill by # 1.2 billion next year and thus public sector workers face increases of up to 2.4 % in their contributions.

This would reduce the growth of public sector pension liabilities by hundreds of millions of pounds over the next decade.

As for reducing the pensions of current public employees, pollsters should read the relevant section of the state constitution to poll respondents.

New Yorkers also oppose (56 - 37) reducing pension benefits for public employees, despite the fact that experts like the Empire Center's EJ McMahon have warned the state is headed for a serious fiscal mess if generous taxpayer - funded benefits packages aren't scaled back soon.

Government reforms have reduced the average value of public sector pension schemes by around three per cent, from 24 per cent to 21 per cent of salary, the Pensions Policy Institute (PP) has said.

The governor was criticized for using messages of necessity, long a staple of backroom deal - making at the Capitol, when he brokered agreements to reduce pension benefits for new public employees and change legislative district lines.

A government ethics reform bill, jointly passed by the state Legislature Monday for a second time, amends the state constitution and allows the state to reduce or revoke the pension of a public officer that has been convicted of a crime related to his or her official duties.

Among the findings: States will face continued pressure due to skyrocketing Medicaid costs, underfunded pensions for retired public employees and volatile tax revenues, as well as reduced federal funding.

The resulting Committee to Save New York rapidly became the state's biggest single lobbyist, raising and spending at least $ 15 million and running TV and radio ads that backed Cuomo's (ultimately successful) proposals for capping local property taxes and reducing the cost of public - employee pensions.

But those unions are now angry that McDonald fell in line with other Republicans (and Andrew Cuomo) voting to reduce pension benefits for new public employers.

David Gauke said that the state of the public finances meant that any idea to reduce taxes (including reversing the Lamomt and Brown raid on pension funds) could only be an aspiration.

At the con - ConCon forefront are public employee labor unions which, as noted above, realistically worry that eliminating the constitutional prohibition on reducing state employee pensions will be a focus of a ConCon.

But three - quarters of New Yorkers say they will support a constitutional amendment in November that would allow judges to reduce or strip the pensions of public officials who are convicted of crimes related to their office.

Another biggie: Certain public officials who commit crimes related to their public offices may have their pensions reduced or forfeited in a new civil forfeiture proceeding brought by the attorney general or the prosecutor who handled the conviction of the official.

The reduced contribution rate — good news for local governments that pay into the state pension system for their public employees — was long anticipated from DiNapoli.

Prop. 2 enables judges to revoke or reduce the pensions of public officials found guilty of corruption related to their jobs.

«Capping pension contributions will reduce the already small public sector pensions even further.

Last year, in exchange for an agreement to reduce the state's long - term pension costs, Mr. Paterson signed in a memorandum of understanding with public employee unions that he would not lay off any state workers during his term, which expires Dec. 31.

But the unions are not in a mood to cede further ground, after failing this year to block legislation that reduced pension benefits for future public workers.

The state's constitution protects public employees and officials from having their pensions reduced or diminished after they start their public employment.

In interviews with over a dozen state committee members, Capital heard common frustration with Cuomo's fiscal record — he blocked an income tax hike on wealthy city residents, cut corporate taxes, reduced school aid in 2011 (and slowly dialed it back up), reduced pensions for newly hired public workers and pushed for a cap on local property tax increases.

After reducing pensions for new public workers, the administration hasn't taken a serious crack at other long - simmering issues that business groups say drive up costs.

Cuomo had just reduced pension benefits for newly hired public workers and cut taxes on the rich.