CSEA President Mary E. Sullivan recently wrote an op-ed stressing that politicians need to leave our pensions alone and to not use them to advance their political agendas. It is our money that we earned over years of service. Comptroller DiNapoli has done an great job over the years protecting our pension fund by making sound fiduciary decisions, not political ones. This is why we have endorsed DiNapoli for his re-election.
The text of the op-ed is below and was published on Syracuse.com. Click here to read and share the op-ed.
To the Editor:
Public workers’ pensions are not a political piggy bank. The money belongs to the workers and retirees who contributed to it and earned it over decades of service, setting it aside for a secure retirement.
That’s why the New York state comptroller’s role as sole trustee of the Common Retirement Fund matters so deeply to CSEA members. Under Comptroller Tom DiNapoli, the pension fund has been managed with a clear understanding of what it is and who it belongs to. It is a pension workers have earned and paid into, with the promise that those dollars would be there when they retire.
The Comptroller has a clear fiduciary duty to protect that money and act solely in the best interests of the members and retirees who depend on it. Tom DiNapoli has consistently respected that obligation. That duty exists to protect real people, including sanitation workers, emergency dispatchers, direct care workers, highway workers and office workers, from political pressure and short-term thinking that could put their retirement at risk.
Yet it seems each election cycle, some political candidates have talked about the pension fund as if it were a public bank account to use to advance their agendas. Let’s be clear: this is not their money. It belongs to the workers who earned it. Politicians who treat pension funds like a political tool are playing games with people’s lives.
At a time when affordability and inflation are already concerns, especially for retirees, that kind of recklessness is unacceptable. Housing costs, utilities, food and health care are not getting cheaper. For many retirees, their pension is what allows them to stay in their homes, pay their bills and maintain financial stability. That’s why keeping the pension fund focused on strong, stable returns matters so much.
The comptroller’s independence and fiduciary discipline are critical safeguards. New Yorkers deserve a comptroller who understands that responsibility and honors it. Tom DiNapoli has done exactly that by managing the Common Retirement Fund professionally, transparently and with a singular focus on protecting public workers and retirees.
Sincerely,
Mary E. Sullivan
President, Civil Service Employees Association