Budget Pensions
New Jersey public employees protest Gov. Christie plan to use pension payments balance budget. Photo: AP

It’s telling that during the same week the Dow Jones hits 18,000, a historic and once unthought of high, The Post calls for reductions to the pensions of current employees and retirees  (Pensions and Promises, Dec. 28).  

In the past, The Post’s advocacy for reducing worker wages and benefits would be hidden behind cries of economic crisis; now, there is no attempt to even mask that agenda.

New York continues to have some of the strongest public-pension systems in the country, and contrary to the assertions of the editorial, employer contribution rates are set to begin declining.  

The problem of income inequality is troubling and well-documented.  Gains in the economy have been enjoyed nearly exclusively by those at the top of the income ladder.  

It’s unconscionable to advocate for cutting one of the few ways workers directly benefit from growth in the market – pensions.

New employees have already had to eat two new pension tiers with reduced benefits in New York, but apparently that’s not enough.  Now, current employees and retirees are on the menu.

Mario Cilento
President New York State AFL-CIO

The original editorial can be found here: Pensions and promises, Dec. 28, http://nypost.com/2014/12/27/pensions-and-promises/