"I think early retirement as a policy is something we have to put into play," he said. NYS should authorize local governments to offer early retirement - Tarrytown-Sleepy Hollow, NY - NYS should also create panel that will develop proposal to reduce layers of government and place, Stance State Bill Status Summary/Title Last Action; NY: S05900: Intro: Relates to additional member contributions for certain members under the age fifty-seven retirement program; provides that members holding certain titles who due to their age at the time of enrollment in the age fifty-seven retirement program will no, 1 of 3. However, de Blasio questioned how effective it will be if an early retirement option is provided but the retiree's role is later filled with another person. M.P. Andrew M. Cuomo's administration. âTiming matters,â he said. With 20 years of service credit, you can apply for early retirement regardless of your age. This program has similarities to New York’s 2010 Early Retirement Incentive program, estimated to have saved state and local governments $681 million over two years. Quotes displayed in real-time or delayed by at least 15 minutes. September 16, 2020 @ 8:31 PM According to the NYS Division of Budget the budget gap will grow to $30 billion in two years. âIt seems to me that this is the best way to move forward, to thin out the workforce for the state and our localities, and still make sure that people arenât going to be put on the unemployment line,â Abinanti told Spectrum News. Should Early Retirement Incentives Be On the Table Now? "I've spoken to the leadership of the legislature in Albany and many members of legislature, and there's a strong consensus that early retirement will have to be part of this package," he said. Monday's remarks indicate his latest attempt to avoid the expected layoffs for more than 20,000 municipal employees due to virus-related budget losses. Log in for unlimited access. According to an August report by CNHI, counties around the state, including Albany, Chemung, Dutchess, and Westchester, have plans to reduce their payrolls by offering retirement incentives, and several other counties are expected to follow suit, according to Mark LaVigne, deputy director of the New York State Association of Counties. Powered and implemented by FactSet Digital Solutions. This material may not be published, broadcast, rewritten, or redistributed. 1 of 3. DE BLASIO SAYS 22K NYC LAYOFFS ON THE TABLE, AS CORONAVIRUS-RELATED BUDGET HOLES DEEPEN. Since the beginning of the year, de Blasio has been working to find a way to combat the $9 billion coronavirus-related revenue loss facing the nation’s biggest city. All rights reserved. In looking at the ERI authorized on June 2, 2010, by then-Governor David Paterson, the CBC estimated that over two years, New York State saved $249 million and New Yorkâs local governments saved $402 million. Mayor Bill de Blasio, left, with Dr. Oxiris Barbot, commissioner of the New York City Department of Health and Mental Hygiene, listens to a reporter's question in New York on Feb. 26, 2020. “It’s definitely being discussed and probably something that will be moved forward,” the legislative source told the outlet. Assemblyman Tom Abinanti (D-Greenburgh) has introduced two bills that address early retirement for state and local government employees. In 2011, the Citizens Budget Commission issued a report on the savings the last official state early retirement incentive package brought in. "If you provide the early retirement option, but then you need to go back and fill that same role with another person and pay their salary. De Blasio added: "So it still comes down to how many jobs we're going to be able to save going forward and the services we need to provide to the people. âWeâve frozen pay increases, frozen hiring, frozen new contracts, temporarily withholding portions of payments. Our new Spectrum News app is the most convenient way to get the stories that matter to you. You've successfully subscribed to this newsletter! 0 videos remaining. One bill provides a temporary retirement incentive for certain public employees older than 55 with 25 years of service. Nov 12, 2020 @ 8:31 PM According to the NYS Division of Budget the budget gap will grow to $30 billion in two years. Bob Lowry, deputy director for advocacy, research & communications of the New York State Council of School Superintendents, was less dismissive of the idea. Bill introduced to offer early retirement incentive as New York faces massive budget gap. New York City employees facing potential layoffs should get early retirement incentives as part of the city’s efforts to identify savings amid a worsening fiscal crisis, Mayor de Blasio said Monday. Legal Statement. âTo date, CSEA has not seen any Early Retirement Incentives proposed through the legislature that we could support,â said Mark Kotzin, CSEA Spokesman. Abinanti calls them âplaceholder billsâ because they havenât changed much since they were originally introduced back in 2009 during the Great Recession in order to serve a similar purpose: trim state expenses. New York City Mayor Bill de Blasio said Monday that early retirement incentives should be considered for city employees who are facing potential layoffs amid an ongoing budget crisis. Pre-virus, the budget was on shaky ground, including big out-year deficits. Find more details about upcoming events here. Bill introduced to offer early retirement incentive as New York faces massive budget gap. Nyc early retirement incentive 2020 rumors. Bill introduced to offer early retirement incentive as New York faces. Get updates from New York and beyond on the virus. âWe introduced the bills because itâs a common-sense solution to the impending financial crisis for state and local governments, and an attempt to stimulate a conversation between the executive branch of all of our governments and our labor organizations,â Abinanti said. Is there a specific set of circumstances that the budget division is looking for that would prompt such a discussion? Over the next 4 years, the gap will grow to $62 billion, The revenue shortfall is largely due to the COVID-19 economic shutdown, While the state has instituted 20% aid withholdings to schools and localities as well as freezes on hiring, new contracts and raises, a Cuomo spokesman says that early retirement options for the state workforce have not yet been actively considered. So at what point will he? (AP Photo/Mark Lennihan, File), "I think the problem we're all experiencing here is that help just hasn't come from where we expect it to," he said. Other levels of government are already looking into early retirement incentives. An Albany legislative source told the New York Daily News that several bills on early retirement incentives have been drafted and in the coming days there should be some movement on at least one of them. Pre-virus, the budget was on shaky ground, including big out-year deficits. But for a state with an out-year budget gap of over $60 billion, early retirements alone may not make a big difference. âGiven variation in local circumstances, including concerns about teacher shortages, we will advocate that districts be given an option whether to participate in an incentive,â Lowry said via email. As of today, Governor Cuomo has not proposed any bills which address early retirement incentives. If funding from the federal government is not forthcoming by the November elections, does that mean other steps, like introducing an early retirement incentive, would be taken? Nov 12, 2020 Assemblyman Tom Abinanti (D-Greenburgh) has introduced two bills that address early retirement for state and local government employees. Download it here. The other bill provides a similar incentive for educators. This material may not be published, broadcast, rewritten, You're not saving money," he said. ©2020 FOX News Network, LLC. "So definitely a piece of the solution, it’s not the whole solution, but early retirement will definitely be a piece of the solution. If New York is to be saved gov't needs to get out of the way: Marcus. Relates to automotive members of the New York city employees' retirement system. But the stateâs largest public employeesâ union, Civil Service Employees Association (CSEA), doesnât appear keen on starting any conversations about early retirement incentives which wouldnât apply to all members. New York City employees facing potential layoffs should get early retirement incentives as part of the city’s efforts to identify savings amid a worsening fiscal crisis, Mayor de Blasio said Monday. Typically, retirement incentives are introduced in Albany as Governorâs Program bills. In 2011, the Citizens Budget Commission issued a report on the savings the last official state early retirement incentive package brought in. 2020-04-08 To Senate Civil Service and Pensions Committee: NY: S05906: Intro: Relates to allowing certain members of the New York city police pension fund to borrow from contributions. Bill introduced to offer early retirement incentive as New York faces. âWeâre going to look into November and see where things are, and then we would look at what needs to be undertaken to do any kind of permanent spending reduction,â Klopott continued. Legislation that would offer retirement buyouts to state and other government workers is garnering a lot of discussion in New York's workforce, but Gov. De Blasio says early retirement incentives should be, De Blasio open to early retirement incentives for NYC, NYS should authorize local governments to offer early, Bills Pending New York Senate Civil Service and Pensions, Buyouts and early retirement stir buzz in New York's, Bill Introduced To Offer Early Retirement. âWe are looking at a wide array of possibilities,â said Freeman Klopott, a spokesman for the NYS Division of the Budget. ", NYC MAYOR'S OFFICE, INCLUDING DE BLASIO, TO BE FURLOUGHED FOR A WEEK AMID BUDGET CRISIS.
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