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LBANY, N.Y. (AP) — New York City Mayor Michael Bloomberg said Tuesday that with an $8 billion pension bill squeezing the city’s finances, state legislators should back the governor and create a new lower pension tier for future municipal and state workers.

The city’s pension costs have risen 500 percent from $1.5 billion in 2002 when Bloomberg took office and now comprise 12 percent of the budget, equivalent to combined operations of the police, fire and sanitation departments, he told a joint legislative budget committee. The new pension tier would save the city $30 billion over 30 years without costing current workers anything, he said.

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