At a meeting with the Municipal Labor Committee, New York City Michael Bloomberg proposed changes to the pension system for future workers. The changes would restrict full retirement benefits to those who retired at 65 or older, and would not include overtime in pension calculations. Current employees would retain their benefits. Unions say that the changes would only hurt workers and the city. A spokesman for the Governor said that he is reviewing the Mayor's proposal.
See "Bloomberg Proposes Pension Cuts for Future NYC Workers", Henry Coldman, Bloomberg News, February 2, 2011