Does Pension Reform Help Ny Municipalities

03.16.12 | Jeremy Miller

NY State House

Some in Albany are calling the pension reform landmark legislation. But in municipalites across the state, they're saying the bill does too little. Governor Cuomo and legislative leaders say the pension deal would save state and local governments about $80-billion in pension costs over 30 years. But Corning Mayor, Richard Negri, says local governments need help now. He says the reform does nothing for current employees and they can't wait 30 years for results. "It really doesn't do us any good, we're talking 30 years. We need help now, not in 30 years," Negri said. Mayor Negri says Corning's pension payments totalled more than $40,000 ten years ago. He says this year, they're at $790,000.