Sentences with phrase «say 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.
http://www.nystateofpolitics.com/ Not exact matches
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.»
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 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.
Miner said she agrees with critics who have raised fears that pension smoothing could undercut the financial stability of the pension fund.
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.
Pension smoothing will not solve their problems, she said.
Former Lt. Gov. Richard Ravitch, a fiscal expert who has advised Miner over the past year, said Cuomo's pension - smoothing idea was «absolutely ridiculous.»
Democrats said it made no sense to reject the deal because it smooths out the pension payments through future years; they said itis supported by a large coalition that includes Malloy, the unions, Wall Street ratings agencies, state comptroller Kevin Lembo and the 10,000 - member Connecticut Business and Industry Association.
A written statement from the Department of Work and Pensions said the «safe and smooth delivery» of the new system would «take precedence over meeting specific timings».