Tag Archives: pensions

Candidate clarifies position on pensions

by Carol Thompson

Amy Tresidder, who is running for the New York State Senate 48th District seat, said Wednesday that her position on pension reform has been misinterpreted.

“As the plan was first presented, I could not support it,” she said.

Tresidder, who is facing incumbent Patty Ritchie in the Nov. 6 election, said that before making a decision in regard to the Tier VI plan, she had contacted the state comptroller’s office to learn more about the costs.

Ritchie voted this year to approve changes to the state pension system, which the unions opposed.

Among the changes is an increased the retirement age from 62 to 63 and the plan offered a 401(k)-style pension option to non-union employees of the state.

At that time, Tresidder said she would not have voted to approve Tier VI , she said, because the startup costs were significant.

“State Comptroller Thomas DiNapoli’s office said that setting up the new pension tier would cost between $7 million and $16 million, without any immediate savings,” Tredidder said.

DiNapoli had also opposed changes to the pension system, said Tressider.

In March, Tresidder received a press release from DiNapoli that stated, “The agreement reached between the Governor and the Legislature on Tier VI will reduce pension costs for new employees. But this new tier will not significantly lower costs for local governments in the short run.”

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