East Hampton Star
MANUEL M. VILAR
As the founding president of Police Benevolent Association of New York State which is the fifth biggest police union in New York State, I don’t typically get involved in political debates, but the proposed plan to divest hundreds of millions of dollars from all fossil-fuel producing companies in the state’s pension system is of great concern, and it should concern all New Yorkers.
It’s no secret that unfunded pension liabilities can cause a cascade of dire service cuts that leave our municipalities on the brink of fiscal disaster. Just look at states like Connecticut, New Jersey, and Illinois. Local governments such as East Hampton and its taxpayers are most vulnerable and will be least able to rebound in a financial downturn.
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