ALBANY, N.Y. — New York Gov. Andrew Cuomo's proposal to establish a new, less generous pension system for future state, local and school employees is expected to face resistance in the waning days of the current legislative session.
Assembly Majority Leader Ronald Canestrari said the bill introduced Wednesday, while expected, will face a lot of opposition, though economic forces are exerting pressure on the state as well. The Assembly Democratic Conference hasn't discussed it yet and has to develop a consensus, he said.
"The governor has a way of getting what he wants and he has shown flexibility on his proposals. We'll have to see how this plays out," Canestrari said. "The clock is ticking."
The legislative session resumes Monday and is scheduled to end a week later.
Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.
Your access to unlimited BenefitsPRO content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Critical BenefitsPRO information including cutting edge post-reform success strategies, access to educational webcasts and videos, resources from industry leaders, and informative Newsletters.
- Exclusive discounts on ALM, BenefitsPRO magazine and BenefitsPRO.com events
- Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com
Already have an account? Sign In
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
