New York Codes, Rules and Regulations › Title 9 - EXECUTIVE DEPARTMENT › Subtitle A - Governor's Office › Chapter I - Executive Orders › Part 5 - Executive Orders (George E. Pataki) › Section 5.96 - Executive order no. 96: establishing the task force on public employee pension systems

Current through Register Vol. 46, No. 28, July 10, 2024
WHEREAS, the strengthened financial condition of public
					 employee retirement systems has resulted in a vast number of competing
					 proposals to improve and reform those retirement systems;
WHEREAS, any changes to public employee retirement systems
					 could have profound effects not only on the pensions of current and future
					 public retirees, but on current public employees as well;
WHEREAS, any amendments to the current system require
					 careful consideration and full exploration by knowledgeable experts and
					 affected parties to ensure the equitable treatment of current and former
					 employees who are members of public retirement systems, as well as to maintain
					 the sound financial condition of the public retirement systems in the future at
					 reasonable cost to participating employers;
NOW, THEREFORE, I, GEORGE E. PATAKI, Governor of the State
					 of New York, by virtue of the authority vested in me by the Constitution and
					 Laws of the State of New York, do hereby establish the Task Force on Public
					 Employee Pension Systems.
I.
				  Membership
The Task Force on Public Employee Pension Systems (Task
					 Force) shall consist of fifteen members appointed by the Governor. Members of
					 the Task Force shall include the Director of the Governor's Office of Employee
					 Relations or her designee, who shall serve as Chair; the Director of the
					 Division of the Budget or his designee; one member appointed upon the
					 recommendation of the Temporary President of the Senate; one member appointed
					 upon the recommendation of the Speaker of the Assembly; one member appointed
					 upon the recommendation of the State Comptroller; one member appointed upon the
					 recommendation of the Mayor of the City of New York; and nine other members
					 including representatives from public employee retirement systems, retired
					 public employee organizations, public employee unions and local government
					 public employers. The members of the Task Force shall receive no compensation
					 but shall be entitled to reimbursement for any necessary expenses incurred in
					 connection with the performance of their duties.
II. Responsibilities and Powers
A. The Task Force shall study and report on:
(1) the financial condition of each
				  retirement system; and
(2) pension
				  benefits currently provided to members of each public employment retirement
				  system, including comparisons with other public and private sector pension
				  benefits. In addition, the Task Force will recommend changes to the public
				  employee retirement systems that may be necessary to provide sufficient
				  benefits to members of retirement systems on an equitable basis while
				  maintaining the financial stability of the public employee retirement systems
				  in the present, as well as in the future.