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Bloomberg Says City Pensions Should Start At 65
By
Jen Chung
Published Feb 3, 2011
Modified Feb 3, 2011
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NYC Mayor's Office
By
Jen Chung
Published Feb 3, 2011
Modified Feb 3, 2011
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At the State of the City address, Mayor Bloomberg announced that one of his big initiatives would be to reform the current pension system. Now, he's proposed a pension system that would make the retirement age 65—and prohibit workers from being able to pad it, a practice that has boosted some pensions 30-167%. Guess what the unions think? The United Federation of Teachers' president Michael Mulgrew told the Daily News, "[Bloomberg's proposals are] insane. I don't know what to say... The mayor has chosen to no longer have a working relationship with the labor force in New York City... Bloomberg has just decided, 'I'm going to attack, attack, attack everybody.'"
The News has more details: "Under a pension proposal Hizzoner handed to union heads Wednesday, teachers and cops won't be able to collect pensions until age 65 - up from 55 for some teachers and as young as 40 for police. They'd also have to kick in more of their own cash for retirement. Retired cops and firefighters would also lose an annual bonus known as the variable supplemental fund."
Firefighters union president Stephen Cassidy blasted Bloomberg some more, "In the middle of squandering $1 billion on CityTime, and another $1.8 billion on the failed [unified 911] dispatch system, the mayor's proposal fails to recognize the unique and dangerous nature of firefighting... Among other things, New York City firefighters killed in the line of duty will no longer be able to count on their benefits to protect their families."
Tagged
firefighters union
mayor bloomberg
pension
pension reform
retirement
teachers union
Jen Chung
Jen Chung is a former WNYC and Gothamist editor.
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Gothamist is funded by sponsors and member donations
Gothamist is funded by sponsors and member donations
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