ALBANY, N.Y. (CBSNewYork/AP) — Heading into Veterans Day, New York Gov. Andrew Cuomo has vetoed legislation that would have authorized state and municipal pension credits for peacetime military service.
The legislation authored by Sen. William Larkin, a Hudson Valley Republican and combat veteran of World War II, would amend current law that provides up to three years’ credit toward public employee pensions for military service during hostilities. Veterans would have to pay 3 percent of their compensation during those military years to the retirement system.
In his veto message Friday, Cuomo said it’s an unfunded mandate on local governments that would incur $57 million in near-term obligations while ignoring recently enacted pension reforms. The measure would apply to every past member of the armed forces who is a member of any public employees’ retirement system.