Commuter X wrote:Anyone think that the recent announcement to reduce the next fare increase to 4% from 7.5% has nothing to do with the upcoming negotiations?
RT&S put out an article a few days ago commenting on the MTA's five-year financial plan and makes note of what you just said.
As a result of improved MTA cost cutting and increased tax and operational revenue, the MTA anticipates that the previously announced 2015 and 2017 fare and toll increases would be designed to yield an increase of four percent. This amount is almost half of the 7.5 percent yields that had been previously projected.
Additional investments are being made to pay down unfunded pension and health and welfare liabilities. The plan also increases the contributions to fund "Other Post-Employment Benefits" (OPEB), primarily healthcare costs for current and future retirees; assumes labor agreements that are currently open will be settled with three years of net-zero wage growth and also assumes that state budget actions will reflect full remittance to the MTA of all funds collected on its behalf.
Full article:
http://www.rtands.com/index.php/passeng ... hannel=281" onclick="window.open(this.href);return false;
There was some talk at the work place recently that the MTA has been taking money out of the MTADB pension over the past few years using it to cover other things. Numbers being mentioned were tens of millions of dollars. Although NYS is considered one of the more solvent states with pensions considered funded, the the pension is an MTA pension and not one backed by NYS.
Marge, if Clinton does make her expected run for the White House I don't see Cuomo challenging her. The Clinton's already are after Obama with the current Affordable Care Act flop and its potential effect on the Democratic party's run for holding onto the White House in 2016.