March 13, 2012
Letter to Delegation on Pension Reform
March 13, 2012
Dear Long Island Delegation of the State Senate and Assembly and Comptroller DiNapoli:
We are writing to reiterate the Long Island Association's support for Governor Cuomo's proposal on pension reform. As New York continues to recover from the recent recession, pension reform would mean $113 billion in relief to businesses, taxpayers, and our municipalities over the next thirty years.
Today, New York City Mayor Michael Bloomberg spoke to the Long Island Association and addressed the topic of pension reform. The Mayor reiterated his support for Governor Cuomo's proposal, which would establish a Tier VI retirement benefit for new employees of state and local governments. We will work closely with Nassau County Executive Ed Mangano and Suffolk County Executive Steve Bellone, who were also at today's meeting and face similarly stark challenges. The LIA joined the Mayor and pledged the support of the business community.
The growth in pension costs is simply unsustainable. Implementation of Tier VI would help stabilize local property taxes on Long Island and provide significant relief to taxpayers and the private sector and to public employers - including school districts, counties, cities, towns and villages. We ask for your support for pension reform, a measure essential for the future viability of New York State's businesses and economy.
We look forward to working with you and supporting a budget that includes meaningful tax relief to the business community and our municipalities, particularly pension reform. If I can be of any assistance with these efforts, please do not hesitate to call me at (631) 493-3001. Thank you.
Kevin S. Law
President & CEO
Long Island Association