As momentum builds during this year’s New York State budget cycle to reform Tier 6 of the New York State Retirement System, the Ulster County Comptroller’s Office is urging careful consideration of the financial impact on local governments.
With more than half of Ulster County employees enrolled in Tier 6, proposed changes aimed at improving recruitment and retention could carry significant cost implications if not paired with increased state support. Policy makers should consider all alternatives such as expanding eligibility for the Voluntary Defined Contribution Plan or creating a plan similar to the SUNY Optional Retirement Plan.
