Capital Tonight: N.Y. teacher unions push to roll back 14-year-old Tier 6 pension reforms
Fourteen years ago, on March 14, 2012, during what would be a seismic overnight session, the New York state Legislature created a new pension tier, Tier 6, that increased the age at which teachers could retire, and increased the amount that teachers needed to contribute to their pensions.
At the time, legislative leaders argued that the changes to the pension system would save $80 billion for state and local governments over 30 years.
But according to union leaders Mario Cilento, president of the New York AFL-CIO, and Melinda Person, president of New York State United Teachers, severe workforce shortages have changed the calculation. They spoke with Capital Tonight’s Susan Arbetter about the issue.