"Notwithstanding that nearly all opinion surveys indicate overwhelming support for reductions in public employee retiree benefits, pensions in New York are guaranteed in the state constitution. A pension is a contract between government and an employee that becomes effective on the first day of employment. Thereafter that contract cannot be diminished or impaired. That is why so-called pension reform in New York always is geared to new hires. New pension tiers such as those enacted in 2009 and 2011 may save billions of dollars as their proponents claim, but those savings will not be realized for decades."  MORE >>