Bloomberg calls for pension reform in State of the City speech
In his State of the City speech, New York City Mayor Michael Bloomberg said that pension reform will be his top priority for the upcoming year.
The mayor has called for a new tier of non-uniformed city employees to be created with a retirement age of 65.
Bloomberg has threatened that if there is no pension reform, then he will not sign off on salary increases for city employees.
Along with pension reform, the mayor also called for an end of the last-in, first-out policy for the firing of teachers, instead calling for smaller salaries for teachers to reduce costs.
These policies must first be approved by Albany before the mayor can begin their implementation.
Mayor Bloomberg's State of the City address