Spin Cycle

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State Comptroller Thomas DiNapoli said Wednesday that he hasn’t made a decision on whether to support Gov. Andrew M. Cuomo’s "pension smoothing" plan to aid cash-strapped local governments.

Speaking to reporters in Manhattan, DiNapoli said his expression of "concern" about the plan has been misinterpreted as criticism of Cuomo. The two Democrats have a frosty relationship; Cuomo did not campaign for DiNapoli’s election bid in 2010.

"Expressing concern is not a criticism. I didn’t see it that way .?.?. I have no interest in engaging in a back-and-forth with the governor," DiNapoli said today.

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Earlier this week, in a New York Times story, DiNapoli’s office said he had "serious concerns" about the pension smoothing plan because it could undermine the funding level of the Common Retirement Fund, which is currently fully funded.

Cuomo yesterday told Talk 1300 Radio in Albany that smoothing wouldn’t be necessary if the retirement fund was doing better. DiNapoli is the fund’s sole trustee.

DiNapoli shot back Wednesday, saying the fund outperforms the retirement funds of other large states. He also predicted stable, and possibly lower" contribution rates from local governments in a year or so.

DiNapoli has the power to veto Cuomo’s plan.

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