Candidate for New York Comptroller in 2018 New York 2018 General Election.
View your personalized ballot, check your voter registration, make a plan to vote, and research every name and measure on the ballot with BallotReady.
Get StartedStop using pension assets as leverage for disingenuous political posturing. As discussed in prior issue briefs, I would focus the CRF's investments in passive, low-cost index funds. This would create far more transparency and eliminate the opportunity for politicizing the Fund for personal political purposes. Learn more
Uncover the amount of money Tom DiNapoli paid Goldman Sachs for his bespoke index that excludes high-carbon emitting corporations and determine its value, taking into account how much the Comptroller has directly invested in high-carbon emitters. Learn more
Publish relative CRF investment performance each quarter by comparing it to all large public pension plans of similar size and stature. Learn more
Disclose all investment fees, including any carried interest, incentive and profit-sharing that remains as we wind down alternative investments. Put all fees in perspective by revealing investment performance both gross and net of fees. Learn more
Wind down the CRF's alternative investment portfolio and, as quickly as is practicable, implement a ban on all alternative investments and their attendant fees. Whatever equity exposure I ultimately retained would be redirected to virtually cost-free indexes. This will save billions while constituting a cheaper, safer and prudent investment strategy. Learn more
Rather than use the Office's formidable audit powers to police trifling practices and obsess over recycling, I would launch a top-to-bottom forensic audit on the MTA to uncover its shortcomings and begin to comprehensively address them once and for all. This would include deep investigations into the MTA's labor costs. And I would work collaboratively with the Authority's management to evaluate best-practices from successful mass transit systems across the country and abroad. Learn more
Trichter for New York proposes to solve the problem by offering an optional defined contribution plan that provides better retirement value for new State and local workers. The plan will be portable, low-cost, and professionally managed to better serve the vast majority of new employees while maintaining the availability of the defined benefit plan for those who wish to enroll in the current system. Those already enrolled in the current defined benefit system will be unaffected by the new option. Learn more
There is an alternative: a truly independent and fiscally responsible Comptroller could unilaterally end most of the backdoor borrowing at the State level by refusing to sign off on new issuances. This is the path I would chart to deliver for taxpayers who are ultimately the ones on the hook for New York State's crushing debt load. Learn more
View your personalized ballot, check your voter registration, make a plan to vote, and research every name and measure on the ballot with BallotReady.