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.
GOVERNOR PATERSON ANNOUNCES AGREEMENT WITH STATE PUBLIC EMPLOYEE UNIONS
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.
