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As health care costs have exploded, as the range of health care services offered to employees has expanded, and as we have made public sector salaries more competitive with the private sector , city government can no longer afford to foot the entire bill.
We will honor pension obligations to all current workers and retirees. But for future hires, it is time to begin bringing the system in line with reality. Our proposal, which Gov. Paterson included in his executive budget, would require employees to make contributions to their retirement fund throughout their careers, which we would set at age 50 for uniformed workers.
Over the past two years, we've cut $2 billion from planned spending. This year we'll cut another $1 billion.
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RETIREE ALLOCATED FUND BAILS-OUT NYC !
Thousand Points of Right
What about the $1.1 Billion Bloomy scoffed from the "Lock Box" for "Retiree's Future Health Care Costs"?? That money was used to balance "The City's" 2009 budget ! Hmmm, Where's the Headline... "Retiree Allocated Fund Bails-Out NYC" ? There's $1.4 Billion left in that fund. Will Bloomy confiscate the rest for the 2010 budget? The City is also in line to receive $3 to $4 Billion from the Stimulus package but Bloomy ain't sayin' nothin' 'bout that ! jg
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