State - Unions near deal on layoffs

[dtwarren]

The Albany Times Union is reporting a deal is near to avert the announced layoffs. In sum there will be no layoffs, a $20,000. incentive to people to retire early and a new Tier 5 retirement. See http://www.timesunion.com/AspStories...storyID=806598

[Save Us]

The Albany Times Union is reporting a deal is near to avert the announced layoffs. In sum there will be no layoffs, a $20,000. incentive to people to retire early and a new Tier 5 retirement. See http://www.timesunion.com/AspStories...storyID=806598

too little too late

[Dougles]

The Albany Times Union is reporting a deal is near to avert the announced layoffs. In sum there will be no layoffs, a $20,000. incentive to people to retire early and a new Tier 5 retirement. See http://www.timesunion.com/AspStories...storyID=806598

I love how UNIONS have no problem selling out their future memebers.

Then you make comments about their pension and they say their only 13% of the budget and we should worry more about the other 87%. However what they don't realize is that over 50% of the other 87% goes to to pay for the HC plans that most of them work for! their zoombies at best!

[Smiley]

Gov. Paterson and unions set to avoid layoffs with pension, buyout deal
BY Kenneth Lovett
DAILY NEWS ALBANY BUREAU CHIEF

Friday, June 5th 2009, 4:00 AM

ALBANY - Gov. Paterson and the state's two major public employee unions are expected to announce a deal Friday to avoid major layoffs, the Daily News has learned.

In exchange for job protection, the Civil Service Employees Association and the Public Employees Federation will okay a new pension plan with lower benefits for new workers.

A key component is a plan to offer $20,000 buyouts to specific people who have hit state retirement age.

The goal is to target higher-paid employees in an effort to save the same amount that would have been saved if the governor's call for 8,700 job cuts had gone through, the source said.

Although union members will benefit, one legislative source said it was possible some managers will also get the buyouts.

"They're going to use it like they're handing out golden parachutes," the source said of the Paterson administration.

The unions, which Paterson previously blasted for refusing to forgo their 3% raises to help the state deal with its fiscal crisis, agreed to pension changes, sources said.

The new Tier 5 plan would strip many of the pension enhancements added before the economy tanked.

The new tier would restore the minimum retirement age to 62, up from 55, and require a worker to contribute 3% of his or her salary toward pensions for as long as they work, not just the first 10 years.

Workers would also have to wait 10 years, instead of five, to become vested in the system.

Paterson wanted to eliminate overtime from counting in pensions, but the deal would allow up to $10,000 in overtime pay to be factored in, sources said.

Paterson stressed "the state has got to make up for about $300 million." Union officials had no comment.

Getting the unions to agree to Tier 5 would be a big boost for Paterson in his bid to extend it to police and firefighters.
The governor forced the unions' hand Wednesday by vetoing a routine pension bill extender affecting new cops and firefighters.

[Bioguy231]

Gov. Paterson and unions set to avoid layoffs with pension, buyout deal
BY Kenneth Lovett
DAILY NEWS ALBANY BUREAU CHIEF

Friday, June 5th 2009, 4:00 AM

ALBANY - Gov. Paterson and the state's two major public employee unions are expected to announce a deal Friday to avoid major layoffs, the Daily News has learned.

In exchange for job protection, the Civil Service Employees Association and the Public Employees Federation will okay a new pension plan with lower benefits for new workers.

A key component is a plan to offer $20,000 buyouts to specific people who have hit state retirement age.

The goal is to target higher-paid employees in an effort to save the same amount that would have been saved if the governor's call for 8,700 job cuts had gone through, the source said.

Although union members will benefit, one legislative source said it was possible some managers will also get the buyouts.

"They're going to use it like they're handing out golden parachutes," the source said of the Paterson administration.

The unions, which Paterson previously blasted for refusing to forgo their 3% raises to help the state deal with its fiscal crisis, agreed to pension changes, sources said.

The new Tier 5 plan would strip many of the pension enhancements added before the economy tanked.

The new tier would restore the minimum retirement age to 62, up from 55, and require a worker to contribute 3% of his or her salary toward pensions for as long as they work, not just the first 10 years.

Workers would also have to wait 10 years, instead of five, to become vested in the system.

Paterson wanted to eliminate overtime from counting in pensions, but the deal would allow up to $10,000 in overtime pay to be factored in, sources said.

Paterson stressed "the state has got to make up for about $300 million." Union officials had no comment.

Getting the unions to agree to Tier 5 would be a big boost for Paterson in his bid to extend it to police and firefighters.
The governor forced the unions' hand Wednesday by vetoing a routine pension bill extender affecting new cops and firefighters.

Remember back in the 80's when Reagan fired all of the members of PATCO and hired in a completely new set of non-union air traffic controllers?

We should start a campaign to re-elect Reagan.

[Smiley]

Remember back in the 80's when Reagan fired all of the members of PATCO and hired in a completely new set of non-union air traffic controllers?

We should start a campaign to re-elect Reagan.

Well.. at least this is a start. Putting a cap on the amount of overtime that can be used in the final average salary is a major start.

Putting the managers in the mix is a major point. They make the bigger bucks.
10 yrs to be vested
Pay 3% for the entire length of service