“The cost of public pensions is killing New York state taxpayers and driving our state into bankruptcy,” said Kaplowitz, a Democrat running for a seat being vacated by Sen. Vincent Leibell, R-Patterson. The district covers parts of Westchester and Putnam counties.
Assemblyman Greg Ball, R-Patterson, and Mary Beth Murphy are competing in a Republican primary to challenge Kaplowitz.
Kaplowitz was in Albany to meet with reporters and push for the measure, which comes on the heels of a report from Attorney General Andrew Cuomo on the practice, known as “pension padding.” Cuomo, who is also the Democratic nominee for governor, said earlier this month that the problem is more widespread and needs to be stopped.
“New York’s current pension system is untenable, unsustainable and unfair to taxpayers,” Kaplowitz said.
Kaplowitz, speaking at park outside the Capitol, said he would also push for a defined pension contribution similar to a 401(k) that private employees pay into. Kaplowitz said his plan would save as much as $2.2 billion in state and local pension costs over the next three years.