Guest Column: Ending tip credit will hit workers hard

Posted on October 20, 2020Categories cohtoypcTags , , , , , , , , , , ,   Leave a comment on Guest Column: Ending tip credit will hit workers hard

first_imgMuch like we are seeing up and down the West Coast, you will begin to see increased automation; businesses will move to a quick-serve or fast-casual model; or stores will close entirely—all of which would kill jobs and ultimately tax revenue in the Empire State.The last time New York gave tipped workers a 50 percent raise, we saw 273 full-service restaurants close (according to Census Bureau data).When Gov. Cuomo indicated his desire to change the tipping system, I started a Facebook group—Supporters of the Tip Credit in NY.I have learned in the last few months that we restaurant professionals are a difficult group to keep organized.We all are tasked with juggling our personal lives, work schedules and other responsibilities.Our Facebook group has grown to over 18,000 — which is incredible to see, but undoubtedly a huge responsibility.I’m consistently fending off trolls from our opposition, while trying also to ensure that all members remain respectful of others, as well as be factually informed.  It truly is a full-time job, for which I don’t get paid. But my livelihood is on the line and it’s time for us who are most intimately impacted by this change to stand up for our industry.While the governor’s intentions may be good, his intel is bad.He has fallen under the guise of ROC (Restaurant Opportunities Center), an anti-tipping activist group.According to filing data, ROC spent $80,000 last year to lobby Gov. Cuomo and the state Legislature.The cost of upending and destroying my industry seems like a bargain.ROC claims that tipping exacerbates sexual harassment.With ROC’s encouragement, 16 female celebrities recently sent a “letter” to the governor that was published in The New York Times. I’m a bartender, a mother and now a grassroots organizer.Why? Because Gov. Andrew Cuomo wants to upend my industry.I love being a bartender, for a multitude of reasons.The most important is the flexibility of my schedule.While my husband works a normal 9 to 5, I can be at home with my children.By working opposite schedules, it allows us to spend quality time with our children while maximizing our income.When I speak to thousands of tipped workers across our state, the two major reasons we choose to be tipped workers is the flexibility of hours and the great money we make. Categories: Editorial, OpinionFor The Daily Gazettecenter_img Many of us are college educated, yet we chose our profession because the money is good.Gov. Cuomo has said that he wants to change all this and upend my profession.He has proposed ending the tip credit.For those of that are new to this term, the tip credit allows us to count our tips towards our wage.It helps to keep menu prices reasonable, while we continue to remain the commission-based sales people we are.No matter how slow our week may be, we are always guaranteed the minimum wage.Ending the tip credit will have a multitude of negative effects. In turn, I wrote a letter showing that sexual harassment is a cultural issue and has nothing to do with tipping. I garnered more than 500 restaurant professionals to co-sign my letter.Admittedly terrible people exist everywhere; I am more likely to be harassed in a grocery store than I am at work, where my manager would have my back in showing that offender the door.At the public hearings over the next few months, Gov. Cuomo needs to hear the following message:The move to eliminate the tip credit is activist driven. Few-if-any servers or bartenders want this change.We are not asking for his help, we don’t need to be saved, and most importantly, you can keep our “raise”.Maggie Raczynski is a bartender in Speigletown.More from The Daily Gazette:EDITORIAL: Find a way to get family members into nursing homesEDITORIAL: Thruway tax unfair to working motoristsEDITORIAL: Urgent: Today is the last day to complete the censusFoss: Should main downtown branch of the Schenectady County Public Library reopen?EDITORIAL: Beware of voter intimidationlast_img read more

Industry experts give thumbs-up to leaked draft of IORP II Directive

Posted on September 29, 2020Categories btyvtfheTags , , , , , , , , , , ,   Leave a comment on Industry experts give thumbs-up to leaked draft of IORP II Directive

first_imgThe leaked draft of the IORP II Directive has received generally positive reactions from experts in the European pensions industry.Hans van Meerten, an associate at law firm Clifford Chance, said the draft version was very welcome, particularly with respect to cross-border and prudential regulations.He said the removal of the full funding requirement was a “big step forward”, given previous criticisms on the definition of cross-border activity, and that the added detail on prudential regulations was a positive move by the Commission.“It means, if IORPs do not comply with the Commission’s interpretation of prudential regulation, they might have a problem,” he said. “But, by regulating prudential regulation, you also regulate social and labour laws [in member states].” Van Meerten said it was a huge step in enhancing cross-border activity, and introduced mutual recognition between member states.Even when looking at the added detail on member communications and trustee board governance – pillars two and three – van Meerten said little came as a shock.“There is a sort of ‘copy and paste’ from the Solvency II Directive with regards to pillars two and three,” he said. “It is new that the way of thinking is in line with the Solvency II and UCITS way of thinking, and there is clear harmonisation in this field, which is welcome.”Dave Roberts, senior consultant at global consultancy Towers Watson, said that, despite rumours and counter-rumours, the leaked draft was evidence of commissioner Michel Barnier’s determination to press ahead with IORP II.“Barnier is due to publish a follow-up paper on long-term investments, and he may try to tie IORP II to this, as it could ease certain current investment restrictions on pensions – particularly for cross-border plans,” he said.On cross-border and prudential regulations, Mark Dowsy, senior consultant at Towers Watson, said the added detail over prudential regulations created uncertainty for anything currently considered under that banner but not included in the Commission’s draft.He also expressed doubts as to whether it would reach the final draft in its current form.“It will not be straightforward to push this one through,” he said.“There are certain elements that some member states may argue are social and labour law, which is a member state competence. This could potentially frustrate cross-border provisions.“Because the Commission is looking to iron out inconsistencies, it should mean it is easier to operate across borders, as it limits what member states can say is social and labour law.”Aon Hewitt said that if the final version of the directive followed the content of the leaked draft, it would provide a “significant boost” to cross-border pension provision in Europe.Paul Bonser, partner and head of Aon Hewitt EU Cross-Border Pensions Consulting, said the legislation could be a “real breakthrough”.“Aon Hewitt’s large global cross-border clients have met the Commission to explain how and why they are setting up cross-border plans, and how things can be made easier,” he said. “If the Commission has listened – and this leaked draft would indicate that they have – then there could be a golden opportunity for multinational companies.”But not everyone is convinced. Bernhard Wiesner – senior vice-president of pensions at the Bosch pension fund and a board member of the German pension fund association – spoke of urgency of cross-border pensions for European worker.“Occupational pensions are the most efficient form of funded retirement provision because they rest on employers as well as social partners,” he said.“It currently only exists in very few member states – and even then, often insufficiently so. Occupation pensions are urgently needed for workers on a large-scale across the whole of the EU.”However, on the merits of the draft IORP II Directive, he was less than optimistic. “So far, it is unapparent how this draft is to encourage employers and social partners to strengthen and expand occupational pensions and IORPs within the EU.”last_img read more