New York: following the New Mexico “model” for pension non-reform?

Check this story out about the New York Assembly’s recent decision not to enact needed pension reforms proposed by liberal Gov. Cuomo.

According to the article:

The Assembly refused Cuomo’s suggestion to raise the retirement age from 62 to 65 even though the governor stressed that his plan would save hundreds of billions of dollars in costs toward a pension plan expected to consume 35 percent of the government’s budget by 2015. In 2001, it was 3 percent.

Here in New Mexico, some Democrats in the Legislature oppose even far more modest reforms than those being considered in New York. Of course, both states could learn a thing or two from Rhode Island where that state’s Democratically-controlled Legislature enacted needed reforms.

Mathematics is not a partisan issue!

HT: Rob Nikolewski

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