Leading Fiscal Group Calls for Overhaul of Costly Pension System

New York, NY--December 15....New Yorkers for Growth, a political action committee dedicated to returning New York State to firm fiscal footing, today condemned the "double dipping" pension loophole allowing state officials to collect pension checks while still in office in light of today's New York Post story (linked here) revealing nearly a dozen state lawmakers-Democrats and Republicans--engaged in the practice.

New Yorkers for Growth called on Governor-elect Cuomo and the legislature to take action on several pension reform measures in the upcoming 2011 session, including switching to a defined benefit contribution plan for all new employees, eliminating overtime from pension calculations and closing the loophole that would prevent officials elected to office prior to 1995 from "double dipping."

"Elected officials-regardless of party affiliation-should be ashamed of themselves for exploiting the system to benefit their own bottom line," said New Yorkers for Growth spokeswoman and former Mayor of Larchmont Liz Feld. "At a time when many New Yorkers aren't collecting one paycheck, state lawmakers think it's fine if they are allowed to collect two. Closing this loophole, along with enacting cost-saving reforms to an exploding pension system is essential to ensuring the long-term fiscal health of our state."

New Yorkers for Growth (NYFG) is a non-partisan political action committee that supports candidates for office committed to returning sound fiscal practices to New York State government. For more information about New Yorkers for Growth, please visit: www.newyorkersforgrowth.com.