Cuomo gets support for reforms in pension system
New York Attorney General Andrew M. Cuomo has been charging hard over the past several months, seeking major reforms in what he calls the “corrupt” management of the state’s $120 billion pension system.
Now, with a strong bipartisan contingent expressing support Monday during a session in Cheektowaga Town Hall, it appears he may have the votes to gain passage in the State Legislature.
“If you change the rules, I think you’re not going to have the same level of corruption going on,” Cuomo told a packed Council Chamber. “That’s what the bill is about.”
The attorney general, who is widely regarded as a potential Democratic candidate for governor next year, has proposed the reforms after his office conducted a two-year corruption investigation targeting business practices under disgraced former Comptroller Alan G. Hevesi. He called the pension fund a “piggy bank” for Hevesi’s political aides, a number of whom were indicted for trying to extract money from companies seeking investments from the fund.
To date, seven companies have signed a code of conduct and agreed to pay back $70 million to the state pension fund, based on the corruption the investigation has uncovered.
Cuomo, meanwhile, seeks a board of directors to replace the comptroller as sole trustee of the state’s largest pool of money, as well as a ban on business with any investment firms contributing to the comptroller’s campaign in a bid to end what he called “pay to play.”
“If you make a political contribution to the comptroller of the state, you can’t do business with the comptroller’s office,” he said. “When you put those two things together, it causes a conflict.”
The main change would replace Comptroller Thomas P. DiNapoli as the sole trustee of the fund with a 13-member board of trustees.
“Right now, there is just one set of eyes [supervising the fund],” he said. “There is no other fund in the United States of America . . . where one person is in charge of $120 billion. It doesn’t exist.
He pointed out DiNapoli voted for a similar measure while he was a member of the Assembly in 1993.
DiNapoli has offered what some call “tepid” support for the Cuomo measure, pointing to a host of reforms and transparency measures he has instituted since succeeding Hevesi. The former comptroller resigned in 2006 after pleading guilty to directing state workers to provide chauffeur and other services for his wife.
But Cuomo seems to be lining up the legislative support he needs to enact the legislation, which he calls Taxpayers’ Reform for Upholding Security and Transparency (T. R. U. S. T.). Earlier on Monday, he convened a similar group of Democratic and Republican legislators in Rochester, following other gatherings on Long Island, and in Rockland and Dutchess counties.
He said governors back to Hugh L. Carey have all called for the same reform, and legislative leaders like Assembly Speaker Sheldon Silver also support the bill.
“Everybody supports it; it just hasn’t happened,” he said. “How can that possibly happen?
Sen. Dale M. Volker, R-Depew, was among at least eight state legislators offering their support to Cuomo at the Cheektowaga session. He said he has introduced similar legislation in the past, with no success.
“It’s probably time for us to do something,” he said. “I expect that before the next legislative session is far along, we will make the change he looks for.”
Joining Volker in supporting the Cuomo proposal were Sens. William T. Stachowski, D-Buffalo, and George D. Maziarz, R-Newfane; along with Democratic Assembly members Dennis H. Gabryszak of Cheektowaga, Sam Hoyt of Buffalo, Francine DelMonte of Lewiston, Mark J. F. Schroder of Buffalo, and Republican Assemblyman Joseph Giglio of Gowanda.
Log into MyBuffalo to post a comment
MyBuffalo is the new social network from Buffalo.com. Your MyBuffalo account lets you comment on and rate stories at buffalonews.com. You can also head over to mybuffalo.com to share your blog posts, stories, photos, and videos with the community. Join now or learn more.
Reader comments