“We commend the Governor and the Legislature for the passage today of a Tier VI retirement plan.   This plan moves New York State in the right direction and  echoes the kinds of retirement options increasingly offered by the private sector.

Soaring pension costs have saddled taxpayers, school districts, and local governments with an unsustainable burden. Tier VI will provide certain relief from these costs. Without relief, necessary services provided by our government and school systems would be shortchanged, as savings to the taxpayer would have to be found elsewhere.

While not perfect, the Tier VI plan agreed upon today is an excellent first step towards addressing some of the long term fiscal issues facing New York State. We look forward to working with our elected officials on additional actions that will bring more immediate relief to all taxpayers.”