NYC Workers Storm Retirement Systems Office To Get In On Soon-To-Be-Expired Pension Plan

March 29, 2012 12:00 AM

NYC Workers Storm Retirement Systems Office To Get In On Soon-To-Be-Expired Pension Plan
" NEW YORK (CBSNewYork) — Thousands of city workers are on a mad dash to apply for pensions before a new state law kicks in on Sunday. The new retirement programs will save the city billions because they dramatically cut benefits.

They were calling out numbers at the New York City Employees Retirement System offices Thursday, and although they weren’t giving out winning Mega Millions tickets, many will be set for life.

“It just seems like a good idea to just join now because things changing,” Parks Department employee John Ernsberger told CBS 2’s Marcia Kramer.

For Ernsberger, and thousands of other city employees, this week is like the California gold rush. You got to get in while the getting’s good.

“Today and it’s only about 11:30, we’ve had 700 tickets being pulled yesterday. We had almost 2,500 tickets being pulled and that’s been consistent for the week,” NYCER general counsel Karen Mazza said.

The reason for this rush to apply is very simple. The new pension law that goes into effect on Sunday is far less generous than the old one "

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