Cuomo Pension Overhaul Is Boost for New York, Moody’s Says
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New York Governor Andrew Cuomo’s changes to pension benefits for future workers will improve the ability of the state and its local governments to manage retirement costs, Moody’s Investors Service said.
“The newly enacted reforms are a critical step in managing longterm pension liabilities,” Moody’s said in a report today. “The benefit to governments will grow as the labor force is replaced with new employees.”