New York Senate Republicans observed Holy Thursday by playing Judas to state taxpayers by favoring high union pensions.
New York Senate Betray Taxpayers In Favor Of Overpriced Union Pensions (Photo: MRP News)
New York Senate changed the taxpayer-guaranteed public pension system
New York Senate in favor on the taxpayer-guaranteed public pension system and local government workers a state-tax-exempt payment in retirement based on their earnings and how long they work, shielding them from financial-market turbulence.
The cost of these pensions exploded in the early 2000s, from under $1 billion in 2000 to nearly $10 billion by 2010. New York Senate created new pension “tiers” in 2010 and 2012 for future hires, with changes that included lifting the retirement age to 63 and necessitating more employees to contribute toward their pensions.
The changes in the New York Senate making up 2012’s Tier 6 are already saving taxpayers more than $1 billion per year and will ultimately save more than $80 billion.
The New York Senate must stop requiring pension contributions from public employees
The New York Senate nearly all of whom were elected with public-employee union backing, used a parliamentary maneuver to try to bring the pension bill for a vote. None of them voted against the move.
