Paterson Makes a Deal With Unions, Officially

As reports in the last few days have said he would, David Paterson just announced a deal with public employee unions that will spare proposed layoffs by offering members buyouts, and in exchange for enacting a less-generous pension program, called Tier V, for newly-hired employees.
Details from the governor’s office are below. This agreement should be a big boost for Paterson: he can claim credit for pushing through Tier V, and at the same time he will neutralize the voice of a very potent (and well-funded) critic that has pulled few punches in its rhetoric.

Unions Will Support Most Significant Reform of the State and Local Pension System in 25 Years to Provide Long-term Savings to Taxpayers
Agreement Achieves Workforce Reduction and Necessary Current Budget Year Cost Savings

Governor David A.

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