Senator Jack M. Martins, the chairman of the Senate Standing Committee on Local Government, addressed the members of the New York Conference of Mayors (NYCOM) & Municipal Officials during their annual winter legislative meeting. Senator Martins discussed the items on NYCOM's legislative agenda.
Senator Martins discussed the proposal to flatten pension rates, which was high on the light of NYCOM's priorties. The proposal was discussed by Senator Martins this past summer and a version of it was included in the Governor's Executive Budget. It calls for local governments and school districts to pay a percent of employee pensions that remains constant from year to year. There are tremendous benefits to local governments and school district to the proposal including immediate relief from having to pay a high spike in pension costs as well as stability in budgeting for pensions each year.