Bloomberg Proposes Pension Cuts for Future NYC Workers
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Future New York City workers wouldn’t receive full retirement benefits until age 65 and couldn’t count overtime in calculating retirement pay under proposals by Mayor Michael Bloomberg.
Bloomberg offered the plan at a meeting yesterday with the Municipal Labor Committee, composed of the unions representing the city’s 300,000 workers, his press office said in an e-mail. The changes, some of which the mayor has suggested in the past, have been opposed by union leaders. While the proposal would need state lawmakers to create a “new tier” of pensions applicable to future workers, current employees would keep their benefits.