Times Union.com
October 25, 2009
by John Faso

Today’s Journal-News in the lower Hudson Valley has a story on the abuse of overtime in Yonkers police force.  The story also chronicles the highest paid pensioners in that region.

 

Tier V is needed to reduce out year pension costs and to bring these expenses more in line with what private sector retirees receive.  But one change which is desperately needed is to eliminate the use of overtime in the calculation of “final average salary” to determine pension benefits.  It is simply outrageous that someone can receive a lifetime pension which is higher than their final base salary. 

 

The unions will blame local government management.  But many contracts actually require overtime to be initially offered to those with the highest seniority, and hence closer to retirement.  The only fair way to handle this situation is eliminate overtime from the pension calculation.  Any discretion in the calculation will invariably lead to new abuse.

 

Click here for the Journal-News story.

 

Meanwhile, our AG pontificates about the pension system and a board of trustees without offering an opinion about how to reform the system to control taxpayer costs.  If Mr. Cuomo is actually serious about leading the state as Governor, perhaps he can actually posit some positions on real issues which will be faced by the next chief executive.  He is good at pandering and platitudes; not so hot on dealing with real issues