Assemblyman Cahill’s Statement on Attorney General Cuomo’s Pension Reform Proposal

October 14, 2009

Attorney General Andrew Cuomo has once again demonstrated that he is constant in his vigilance over taxpayers' money and keenly aware of what it takes to make New York government run right again. His call for public pension reforms along with his efforts on local government consolidation address the key concerns I am hearing from leaders in our counties, towns and villages.

I applaud Attorney General Cuomo for proposing sweeping measures, including the permanent codification of many of the reforms already put in place by State Comptroller Thomas DiNapoli. Taxpayers and beneficiaries of the public pension system have a basic right to assurances that their dollars are being invested wisely and honestly and that their pensions are safe and affordable. With Attorney General Cuomo and Comptroller DiNapoli both asserting this as their primary mission and advancing far-reaching measures, New Yorkers can be sure that the days of pension scandals are behind us.

Pension funds across the United States have taken a serious hit in this current recession. Some private funds have evaporated altogether. I know how much that means. Several years ago, my own family watched a pension disappear into thin air because of corruption, inside dealing and bad investments. We have an obligation to make sure that never happens again. I applaud our activist Attorney General for his foresight and good work and for once again setting the stage for a high level discussion and resolution of an important public issue.

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