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Pension relief offered to municipalities, school districts

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Savings from last year’s new public pension plan could be realized sooner rather than later under a proposal unveiled Tuesday in Gov. Andrew Cuomo’s state budget. The governor’s proposed budget, which runs from April 2013 to March 2014, allows local governments and school districts to benefit from Tier VI now, as opposed to decades in the future. By locking in a long-term contribution plan, school districts and municipalities can reduce their pension costs during these ...


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