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Q&A
Pension considerations for former federal workers joining city government
0:58:59
ยท
74 sec
Council Member Restler inquires about potential modifications to pension policies to incentivize former federal workers to join city government. Commissioners respond and discuss potential next steps.
- DCAS has not yet engaged with NYCERS on this specific topic
- Commissioner Molina agrees to discuss the matter with NYCERS partners
- Potential changes might require state legislative action or home rule requests
- DCAS has worked on improving understanding of pension portability between state and city levels
Lincoln Restler
0:58:59
Anything you'd like to add here?
0:59:00
Could you speak to the pension issues at all?
0:59:02
Are there ways in which we could or should be modifying our pension policies to better incentivize former federal workers from joining city government?
Katrina Porter
0:59:12
Yes, so that question would be best addressed by NICERS.
0:59:14
I wouldn't be able to address that.
Lincoln Restler
0:59:17
Do you know if this is something have you all been in conversation with NICERS on this topic as of yet?
0:59:21
We have not.
0:59:22
No.
0:59:22
Okay.
0:59:23
Is that something that you'd be
Louis Molina
0:59:24
I'm happy to engage with my partners and NYSERs to talk to think it through and talk about it.
0:59:27
I think that might be better left to maybe like state legislative issue because it affects pensions and pension tiers, but happy to do the thought work with them to see if there's a value there.
Lincoln Restler
0:59:39
Well, any any of those changes would in all likelihood come through a home rule for through our committee as well, so we'd be happy to be involved or helpful and supportive in any
Louis Molina
0:59:47
We have done a lot on just trying to help employees both at the state level and the city level understand the way portability of their pensions work.
0:59:56
Right?
0:59:56
So, at the state and city level that's just that is much easier, but happy to get into this to think through what we can do on the federal side.
Lincoln Restler
1:00:04
Okay.
1:00:04
I have more questions that I think are for deputy commissioner Porter's world, but I will pause in case council member Brewer would like to jump in.
Gale A. Brewer
1:00:13
Thank you very much.