[media-credit name=”Downtown Express photos by Milo Hess” align=”aligncenter” width=”600″]
[/media-credit]On Sat., March 10, Reverend Billy of the Church of Life After Shopping led a raucous crowd as they protested Governor Andrew Cuomos’s proposed Tier VI Pension Plan.
Members of DC 37, the largest pubic employee union in New York City, joined Rev. Billy. The “People’s Microphone,” a device that originated during the Occupy Wall Street movement, was used to voice opposition to Cuomo’s plan, which union members said would “result in reduced benefits” as well as an increase in the retirement age.
[media-credit name=”Downtown Express photos by Milo Hess” align=”aligncenter” width=”600″]
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One example the crowd pointed to was the proposal’s establishment of a 401(k) pension plan. One union member noted that by mandating a 401(k), the worker’s earnings would fall victim to the same “private sector” that is responsible for the current state of the country’s economy.
[media-credit name=”Downtown Express photos by Milo Hess” align=”aligncenter” width=”600″]
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Oliver Gray, the associate director of DC 37, said the protest was meant to draw attention to the fact that the pension reform proposed under the Tier VI legislation, “shouldn’t even be on the table.” Gray cited the recent brief, “How Much Does the Tier 6 Proposal Reduce Employee Retirement Benefits,” distributed by the Fiscal Policy Institute, an independent, nonprofit research and education organization, as proof that the proposal should not move forward. The Fiscal Policy Institute brief stated that under Cuomo’s Tier VI proposal, the “typical Employees’ Retirement System-covered employee would receive a pension” that would represent a decrease of 39.8 percent.
— John Bayles
