Less than three years ago, Wall Street greed almost crashed the global financial system. Fortunately, working families in New York and across the country stepped up to save us from financial ruin.
In the wake of this crisis, we were forced to reevaluate what is important to us. We were forced to get back to basics.
Unfortunately, some politicians have an extremely short memory.
They have forgotten that one of the most basic American principles is that people who work hard all their lives deserve to retire with dignity and have the ability to provide for our families.
They have forgotten that one of the most reliable and affordable ways to ensure retirement security is a defined benefit pension plan. They want to use the economic crisis as an excuse to erode pension security even though New York's public pensions are among the most financially sound in the country.
They have forgotten that the average pension for public service workers in New York is $19,000 per year and that the economic activity this income generates is critical to New York cities, towns and villages.
They have forgotten that worker contributions and investment earnings provide for 85% of pension costs are paid for by employee contributions and investment returns.
That's why I am signing this pledge and urging NY legislators to stand with the working, middle class and defend retirement security for all New Yorkers.
Click here to sign the pledge to stand up for retirement security.