MORE ON THOSE UNDERFUNDED / OVERGENEROUS PUBLIC PENSIONS: “Proposals to cheapen pensions for future New York City uniformed employees — pushed this week by Gov. David A. Paterson at Mayor Michael Bloomberg’s urging — are gaining their share of buzz on Long Island. . . . Proposals to shave pension entitlements for new employees emerge in every fiscal crisis, prompting resistance from public-service unions and from the lawmakers responsive to them. Each pension tier marks an effort at what policy-makers call fiscal reform. Over the years the state has had four such tiers. The constitution bars cutting pensions to those already on the job or retired.” The problem is, it’s not the new employees who are causing the financial pain.
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