New York Labor and Employment Law Report : New York Employment Lawyer & Attorney : Bond Schoeneck & King Law Firm : NY Labor Relations, Employee Benefits

On December 10, 2009, Governor Patterson signed into law the Tier V Pension Act  which adds Article 22 to the Retirement and Social Security Law. The legislation creates a new Tier V pension classification for public employees who first join the New York State and Local Retirement/Police and Fire Retirement System (PFRS), the New York State and Local Retirement Systems/Employees Retirement System (ERS) and the New York State Teachers’ Retirement System (TRS) on or after January 1, 2010. Governor Paterson announced that this Legislation will provide more than $35 billion in long-term savings to New York taxpayers over the next thirty years.  However, as reported by the Albany Times Union, others such as E.J. McMahon, Director of the Empire Center for New York State Policy, have challenged such claims.

Below are some of the highlights of the new legislation:
 

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Earlier this summer Governor Paterson signed the “New York Government Reorganization and Citizen Empowerment Act” (Chapter 74, Laws of 2009). This sweeping piece of reform legislation was championed by Attorney General Cuomo as a way to improve local government efficiency and provide property tax relief to an already burdened citizenry. The Act, which will become effective on March 21, 2010 intends to make it easier to consolidate various governmental bodies such as Towns, Villages, and Special Districts. What remains to be seen, however, is whether the Act’s two new methods for consolidation/dissolution will truly benefit taxpayers and save money, or simply create a costly process counterproductive to the Act’s admirable goals. Equally uncertain is the Act’s impact on municipal labor and employment successorship issues arising out of consolidation or dissolution.

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