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Story summary
- Mayor Zohran Mamdani of New York City has floated a plan, in talks with Governor Kathy Hochul, that could save the city at least $1 billion this fiscal year.
- The plan would push the deadline for meeting long-term pension obligations past 2032 while likely leaving current retirees’ benefits unchanged.
- Union leaders and Citizens Budget Commission president Andrew Rein have criticized the move as a shortcut that shifts fiscal responsibility onto children.
