Spitzer and DiNapoli Announce Pension Fund Reforms, Cuomo Reserves Judgment

Eliot Spitzer and state Comptroller Tom DiNapoli announced a plan today for reforming the management of the $154 billion state pension fund.

But they did not recommend putting the fund under the control of a board of trustees. (Currently, the state comptroller’s office manages it alone). After DiNapoli’s predecesssor, Alan Hevesi, resigned over alleged misuse, it reawakened a long-standing debate about the safety of the fund in the hands of one official.

Andrew Cuomo, who is investigating Hevesi, seems to be reserving judgment. From a statement:

“We agree that the Comptroller’s Office needs significant reforms and will comment on them at the end of our ongoing investigation concerning that Office.”

Spitzer and DiNapoli Announce Pension Fund Reforms, Cuomo Reserves Judgment