Trichter For New York

 

 

 

 

 

Jonathan

Trichter

For

New York State

Comptroller

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My Promise

I will bring a fresh independence to the role of Comptroller and provide a necessary check on the waste and inefficiency in State government. I will forensically audit Albany spending to identify every dollar that isn’t put to use for all New Yorkers, not just the politically-connected insiders.  I will never sign off on a budget that isn’t fair. I will take my pen and go home rather than sign a budget that isn’t fair. The result will be billions in new savings each year. That is my promise to you.


How i can win!

Tom DiNapoli was appointed by Shelly Silver to fill a vacancy in the Comptroller's office over the objection of every major editorial board in the State. He has returned the favor by using the office to protect the Albany status quo, worsening the broken fiscal practices that are injurious to our State and its economy.

He has also used the office to protect his political allies in Albany. In one particularly horrendous incident, DiNapoli’s office covered up sexual harassment by his close ally, Assemblyman Vito Lopez. DiNapoli’s office negotiated a confidential settlement with the victims and authorized using tax-dollars for a hush-money payment. That allowed Assemblyman Lopez to hire more young women to harass. DiNapoli never apologized even after an investigation made this public. In fact, he continued to authorize using tax-dollars to make hush-money payments to victims of sexual harassment. The Governor and the New York Legislature finally had to pass a law this year to stop the practice.

I would never authorize the use of tax-dollars to cover up sexual harassment by Albany politicians. I have publicly posted the complete results of a campaign poll that shows just how disqualifying DiNapoli's use of tax dollars to cover up Lopez's harassment is among voters. You can see the poll results in their entirety at the links below.


Hear Why i must Win!

With yesterday’s choice of a new comptroller, the State Legislature failed to select the best candidate for the job. The choice is a setback for a legislature that is already considered one of the worst in the nation.
— The New York Times
DiNapoli doesn’t do a drive-by; he’s listed for a combined eight hours at three of Vito Lopez’s events. Morning, noon or night works for DiNapoli, too, who was scheduled to stay until 10pm at Vito Lopez’s Lindsay Park gala, a celebration at a Williamsburg housing development.
— the village VOICE
The voters, so fed up with the capital’s sloth and sleaze, will remember when the time comes that DiNapoli is not their man. That he is Silver’s creation, the guy who had the backing of party bosses because they felt they could work with him, the man in a small job who took advantage of a rigged process to become someone big. The someone who got sole custody of the pension fund money, though his financial acumen ends with balancing the family checkbook. A pox on him.
— New York Daily News
Memos show that aides to Comptroller Thomas DiNapoli were in on the Lopez deal.
— The New York Post
…and the worst awaits DiNapoli. He is now the poster boy for Albany dysfunction and bears the stigma of being a third-stringer who doesn’t belong in the job.
— New York Daily News
State Comptroller Thomas DiNapoli’s office was extensively involved in drafting the secret agreement to settle sexual-harassment claims filed against Brooklyn Assemblyman Vito Lopez, according to explosive new documents released yesterday.
— The New York Post
Assembly Speaker Sheldon Silver had two choices in replacing the disgraced Alan Hevesi: Select someone with impeccable credentials or toss a bone to a benchwarmer. They went with Thomas DiNapoli, who has zero experience relevant to managing a billion-dollar pension fund or running a staff of thousands.
— New York Daily News
The state’s new ethics panel voted yesterday to launch a massive investigation into the actions of everyone involved in the Vito Lopez sex scandal — including…Comptroller Tom DiNapoli. The offices of Schneiderman and DiNapoli were consulted for legal advice on the deal, and DiNapoli’s staff cut the checks.
— The New York Post
Worse still, more than a hundred thousand dollars of public funds were committed to the private settlement, along with the threat of a twenty-thousand-dollar fine for anyone who leaked news of its existence. Sheldon Silver, the Assembly speaker, approved the plan, and the office of Thomas DiNapoli, the state comptroller, helped draft the language.
— The New Yorker
DiNapoli also had at least one Lopez meeting in his office. When the Voice asked DiNapoli if he had any regrets about all this picnicking and partying with Vito, he sighed deeply and declined to answer the question.
— the village VOICE
Never mind that DiNapoli has no qualifications to oversee $146 billion in public pension funds, audit state agencies and sign off on contracts. He’s Silver’s pick.
— The New York Post
The emails released Wednesday revealed the office of state Controller Thomas DiNapoli, which had to sign off on the taxpayer-funded deal, was far more involved in the talks than it has let on.
— New York Daily News
DiNapoli has rarely missed a Vito Lopez event, doing four between July 22 and August 25 of this year alone, even as scandals around the Brooklyn assemblyman and Democratic county leader were beginning to explode.
— the Village Voice
 
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About Me

Jonathan Trichter is an investment banker and public finance expert. He has worked for J.P. Morgan, the restructuring firm MAEVA Group LLC and served on underwriting teams for the largest municipal bond issuers in the country. His work has helped state and local governments identify major long-term liabilities that were previously unaccounted for.

Active in New York government, policy and civic causes for decades, Jonathan spent his early career in New York City government and on political campaigns. He worked for the New York Public Interest Research Group in high school.

At J.P. Morgan, Jonathan covered the Office of New York State Comptroller where he compiled a directory of New York’s outstanding bonds to provide the full details of the State’s debt profile for the incoming Comptroller, Tom DiNapoli.

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In 2010, Jonathan served as policy director on Harry Wilson’s campaign for New York State Comptroller. His work including researching and contributing to white papers on the New York State pension system that were covered extensively by the media and helped earn Mr. Wilson the endorsement of every major newspaper in the State, included The New York Times.

Jonathan went on to work for Mr. Wilson’s restructuring firm, MAEVA, where he was a key leader on the largest out-of-court pension consent process in a corporate restructuring in recent years for a private sector workout. He later ran a municipal restructuring subsidiary of MAEVA, which was tapped by the Pew Charitable Trusts to work on public pension restructurings across the county. In this capacity, Jonathan helped lead some of the most meaningful pension reforms implemented by cities and states at that time. In Jacksonville, Florida he worked with Mayor Alvin Brown and the police and fire unions to restructure one of the most distressed public-safety pensions in the country; the work ultimately preserved the system’s defined benefit status via a consensual solution that saved the city $1.5 billion while funding the pension plan in a reasonable period without major benefit cuts to its members.


Jonathan spent 2014 working for a venture capital firm owned by his wife’s family. There he managed a digital media startup, serving as its President in preparation for a key round of financing. With his background in communications, Jonathan took monthly traffic from under 2 million “uniques” per month to over 7 million in just 60 days. Afterwards, he worked directly with the VC firm’s chairman on a successful Series A, in which Discovery Communications led the round along with participation from Softbank, RRE Ventures, Greycroft Partners and Sterling.

In 2015, Jonathan returned to MAEVA as a principal.

Jonathan has published numerous articles and op-eds in The New York Times, The New York Post, The Daily News and others. His commentary has appeared on local news and national networks. He served as an adjunct professor at Fordham University in the political science department, and he founded a polling institute at Pace University.

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He is a graduate of Emory University and resides in New York City on the Upper East Side of Manhattan with his wife, the Executive Editor of Seventeen Magazine, and son. He is also an ironman triathlete, marathoner and open-water swimmer, but mostly before his son was born.


 
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Testimonials

I don’t make it a regular practice to advocate for a Democrat, but the choice here is obvious. The pension system is so critical, we need the best person to run it. This is a non-political position or at least should be and Jonathan Trichter has the skills for the job.
— Mike Sigler, Tompkins County Republican Chairman
I’ve always said it was providential that Jonathan Trichter reached out to our task force to offer pro bono assistance to us in restructuring our underfunded Police and Fire Pension Fund. I don’t know how we would have gotten it done it without his help. We relied on Jonathan’s experience and advice, and that of his colleagues at The Pew Charitable Trusts, to come to a comprehensive solution - among all stakeholders - to a problem the city had been wrestling with for years. We were so very grateful for his service to us.
— Bill Scheu, Chair of the Retirement Reform Task Force in Jacksonville, Florida (2013-14)
Jonathan Trichter is a financial expert who has proven that he will stand up for taxpayers and fight for fiscal responsibility. Working with the highly respected Pew Charitable Trusts in Jacksonville, Florida — the largest city by area in the contiguous United States and 12th largest by population in the nation — Jonathan championed governance reforms to ensure financial accountability, transparency, and sound investment strategy at the Jacksonville Police and Fire Pension Fund. I have no doubt he will bring the same approach to serving the people of New York as Comptroller.
— Chris Hand, former Chief of Staff to the Jacksonville Mayor
 

in the media

 

 
 By  Nicole Gelinas  |Nov 5, 2018

By Nicole Gelinas |Nov 5, 2018

New York’s Luxury Pension System

The Republican comptroller candidate has some important—if arcane—ideas.

The office of New York State comptroller is hardly exciting. The last time it made front-page news was 2006, when Alan Hevesi resigned the post and went to prison for public corruption. This year’s race, between Tom DiNapoli, Hevesi’s successor and the two-term incumbent, and Jonathan Trichter, has garnered scant public interest, and the single hour-long debate held between the candidates last week on NY1 did little to change that. It’s a shame, because the state comptroller is one of the most important elected officials in the state, and Trichter has some fresh ideas about how to manage the public’s money…Read More


 
 By  DAILY NEWS EDITORIAL BOARD  | NOV 04, 2018

By DAILY NEWS EDITORIAL BOARD | NOV 04, 2018

Timid Tom: Controller DiNapoli should be doing better by the state pension fund

For 11 years, Tom DiNapoli has served as the state's top pension steward and fiscal watchdog. He's been, to put it charitably, meh.

At the core controller job of trying to generate investment returns capable of paying out benefits to retired public employees — the fund he oversees is valued north of $200 billion, making it the third-largest in the nation — he's gotten results roughly in line with other large funds… Read More


 
  By    John Catsimatidis    | Oct 27, 2018

By John Catsimatidis | Oct 27, 2018


 
   By      Robert J. McCarthy     | Oct 23, 2018

By Robert J. McCarthy | Oct 23, 2018

Tesla Plant Becomes Familiar Backdrop In Statewide Campaigning

This year’s campaign trail for statewide challengers seems to lead directly to the Tesla plant in South Buffalo.

Republican comptroller candidate Jonathan Trichter on Monday became the latest to stage the sprawling solar panel manufacturing facility as a backdrop, repeating a now familiar mantra that labels the state’s $750 million investment there a failure. Trichter stood on familiar turf to tell reporters that incumbent Democratic Comptroller Thomas P. DiNapoli failed to properly oversee the flow of state funds into nonprofit entities connected to the State University of New York…More


 
 By MATTHEW REITZ | Oct 4, 2018

By MATTHEW REITZ | Oct 4, 2018

Trichter running for state's top fiscal office

OSWEGO — Investment banker and public finance expert Jonathan Trichter is seeking to become New York’s next comptroller largely due to frustration over what he calls the “mismanagement” of the state pension fund…

…Throughout the campaign, Trichter has sharply criticized DiNapoli’s handling of the New York State pension fund and says the fund has underperformed DiNapoli’s own investment goals by more than $60 billion over the last 10 years…More


 
 Letter to the Editor by Larry Penner | Oct 4, 2018

Letter to the Editor by Larry Penner | Oct 4, 2018

JV EDITORIAL

Letters to the Editor 10/04/2018

Supports Trichter for State Comptroller

Dear Editor:

Republican/Conservative Party candidate Jonathan Trichter for State Comptroller makes sense. Albany has always had members of different political parties holding key statewide offices. This promotes independent checks and balances to insure honesty. Past Republican Governors Nelson Rockefeller and George Pataki had Democrats Arthur Levitt, Carl McCall and Alan Hevisi as State Comptroller. Democrat Governors Hugh Carey and Mario Cuomo had Republican Comptroller Ned Regan…More


 
 By Ben Max | October 4, 2018

By Ben Max | October 4, 2018

Max & Murphy Podcast: Jonathan Trichter, Republican nominee for Comptroller

Jonathan Trichter, the Republican candidate for state comptroller, joined the show to discuss his candidacy, including his critiques of incumbent Comptroller Tom DiNapoli and his plans for doing things differently if elected. Listen to the Interview


 
 By Cara Demers | Sep 10, 2018

By Cara Demers | Sep 10, 2018

Jonathan Trichter speaks with WENY about comptroller candidacy

Jonathan Trichter, republican candidate for New York State Comptroller, speaks about his platform with WENY's Cara Demers. …See Interview


 
 Focus on The State Capital | Fred Dicker  August 30, 2018

Focus on The State Capital | Fred Dicker

August 30, 2018

Republican Candidate For State Comptroller And Former Democrat Jonathan Trichter: Why I Switched From Democrat To Republican And Why I'm Better Than Comptroller Tom Dinapoli.


 
 Capital Tonight | Liz Benjamin  August 27, 2018

Capital Tonight | Liz Benjamin

August 27, 2018

Looking at the race for State Comptroller

Among the many statewide races we've covered, there's one race that hasn't received that much attention, and that's the race for state comptroller.

Jonathan Trichter is a Democrat who has spend a majority of his career working for Democrats but is running on the Republican side against incumbent Tom DiNapoli.

Trichter switched his party affiliation, but it won't take effect for this election cycle.

He's been critical of DiNapoli, alleging he's mismanaged state funds during his time in office....More


 
 By David Lombardo | August 15, 2018

By David Lombardo | August 15, 2018

GOP candidate questions DiNapoli's pension fund strategy

The state's pension fund for public employees has been used as a political tool, according to a new report from Republican state comptroller candidate Jonathan Trichter.

Trichter argues that state Comptroller Thomas P. DiNapoli has used the fund, currently valued at $206.9 billion, to defend his political allies and grab headlines at the expense of higher earnings that could reduce the state's reliance on tax revenue to fund pensions. The candidate has also questioned the comptroller's decision to spend $6 billion on fees to managers of hedge funds that have under-performed the market....More


 
 By Post Editorial Board  August 10, 2018

By Post Editorial Board

August 10, 2018

New York’s growing six-figure-pension club

The hit on New York taxpayers continues to grow, with the number of $100,000-plus retirees up 20 percent last year.

As the Empire Center reported this week, the number of six-figure pensioners in the state pension system is nearing 5,000 — up 756, or 20 percent, from 3,817 in fiscal 2017. Of those, 20 rake in more than $200,000 a year; three get 300 grand-plus...

...Indeed, state comptroller candidate Jonathan Trichter this week is blasting incumbent Tom DiNapoli, who oversees the retirement system, for parking money in hedge funds and private-equity assets that “underperformed” the market by $8 billion....MORE


 
 David Lombard | July 30, 2018

David Lombard | July 30, 2018

GOP candidate levels allegations of pension fund mismanagement
 

ALBANY — The state's pension fund failure to meet expectations over the past decade under Comptroller Thomas P. DiNapoli has shifted the cost of public pensions to New York taxpayers, according to a report released Monday by Republican comptroller candidate Jonathan Trichter.

The report argues that the state's Common Retirement Fund, which was at $154.6 billion in 2007 when the Long Island Democrat was appointed comptroller, has only grown to $206.9 billion in the ensuing 11 years. Trichter says it should be worth $344 billion, and says the $137 billion shortfall has resulted in taxpayers shouldering a larger share of pension costs for state and local government retirees...MORE


 
 Kamp Consulting Services  Russ Kamp | July 23, 2018

Kamp Consulting Services

Russ Kamp | July 23, 2018

ANOTHER EXAMPLE OF POOR POLICY

Anyone who has ever read one of the KCS blog posts knows that we are big fans of defined benefit plans for the masses, both private and public employees. We fear the negative implications of our failure to preserve and protect these valuable benefits given that the alternative is to have untrained individuals become portfolio managers responsible for their retirement. Nuts!

However, a recent excellent report by Jonathan Trichter, a candidate for NY State Comptroller, suggests that new employees in defined benefit plans are getting short-changed relative to those employees who have greater tenure because of the tiering of benefits that have occurred. We agree. In fact, the NY State Employees Retirement System (ERS) currently has 6 different tiers and one’s benefits are determined by the start date...MORE


 
 Podcast with Vikram Aiyer | July 3, 2018

Podcast with Vikram Aiyer | July 3, 2018

DEMOCRATS RUNNING AS REPUBLICANS – WITH JONATHAN TRICHTER

When Americans vote, many positions on the ballot don’t even make sense to us. A superintendent? A comptroller? However vague they may sound, these “down-ballot” posts can sway everything from the lunch your kids eat at school to the way the subway system runs. New York State candidate for Comptroller Jonathan Trichter joins “American Enough” to tell us what the hell a comptroller is and why he suited up as a Republican to change the game...Listen to Podcast


 
 Capital Tonight Staff | May 24, 2018 @6:24 PM

Capital Tonight Staff | May 24, 2018 @6:24 PM

Republicans pick TRICHTER for state comptroller race

Republicans officially picked their candidate for state comptroller race on Thursday, giving Jonathan Trichter not only the nomination but special permission to run on the party's line, since he is not yet an enrolled GOP member. But while Trichter's career has been in Democratic politics, he says he is now in line with the rest of this year's Republican ticket. We spoke to Trichter about that and more...See Interview


 
 By  Chris Bragg  on May 24, 2018 at 3:02 PM

By Chris Bragg on May 24, 2018 at 3:02 PM

CAPITOL CONFIDENTIAL

LATEST NEWS FROM THE TIMES UNION CAPITOL BUREAU

For comptroller, GOP unanimously backs Trichter,a new Republican

After hand-wringing from some Republican county chairs about the possibility of nominating political operative Jonathan Trichter as the party’s state comptroller candidate, he unanimously won the party nod at its convention in Manhattan on Thursday ...MORE


 
 By  David Lombardo  on May 18, 2018 at 11:37 AM

By David Lombardo on May 18, 2018 at 11:37 AM

CAPITOL CONFIDENTIAL

LATEST NEWS FROM THE TIMES UNION CAPITOL BUREAU

PODCAST: The fiduciary hero

Jonathan Trichter believes the state comptroller’s office has superpowers and hopes voters in November will decide he’s the right person to wield them.

Trichter, an investment banker, joined the Capitol Confidential podcast to talk about his long shot bid to be the next state comptroller.

The conversation addressed his critique of state Comptroller Thomas DiNapoli, explored his plan to run as a Republican despite being a registered Democrat and dove into the success of the movie Taken. He was also grilled on the difference between controller and comptroller ... listen here


 
 By Capital Tonight Staff | April 11, 2018 @6:20 PM

By Capital Tonight Staff | April 11, 2018 @6:20 PM

Former campaign operative running for state comptroller

Republicans officially have a candidate in the state comptroller's race now that former campaign operative Jonathan Trichter has announced that he is running. Back in 2014, Democratic incumbent Tom DiNapoli easily won re-election. But in 2010, it was a much, much closer contest. And although he had previously worked mostly for Democrats, Trichter actually worked for DiNapoli's Republican opponent that year, Harry Wilson. Trichter joins us from New York City to explain why he decided to go from adviser to candidate.  See video

 


 

FOR IMMEDIATE RELEASE

Trichter for New York

Public Finance Expert, Jonathan Trichter, Announces Candidacy for New York State Comptroller

Registered Democrat Has Support of Leadership in the NYS GOP & Conservative Party – Will Seek Wilson Pakula

New York, NY—April 10…Jonathan Trichter has officially announced his candidacy for New York State Comptroller with the release of an introductory campaign video posted to Facebook here.  

...more


  BY    KENNETH LOVETT    Updated: Wednesday, March 7, 2018, 4:25 PM

BY KENNETH LOVETT

Updated: Wednesday, March 7, 2018, 4:25 PM

 

JONATHAN TRICHTER PREPARING TO RUN FOR STATE COMPTROLLER, CHALLENGE THOMAS DiNAPOLI

ALBANY — A one-time Democratic operative who once worked for Eliot Spitzer is preparing to run for state controller on the Republican and conservative lines.

Jonathan Trichter, a registered Democrat, also hinted he might try to challenge incumbent Controller Thomas DiNapoli in a Democratic primary.

"I thought hard about who would make a good candidate for comptroller in 2018 under the theory the incumbent is not up to scratch and that he is particularly vulnerable on the issues," Trichter said. "I couldn't come up with anyone better than me." ...MORE

 


 By Robert Harding robert.harding@lee.net  Mar 7, 2018

By Robert Harding robert.harding@lee.net

Mar 7, 2018

Jonathan Trichter preparing to challenge NY Comptroller Tom DiNapoli

Jonathan Trichter assisted Harry Wilson when the latter nearly defeated state Comptroller Tom DiNapoli in 2010. Eight years later, Trichter is preparing to launch his own bid to become the state's chief financial officer. 

Trichter confirmed in an interview with The Citizen Tuesday that he is set to launch a campaign for state comptroller. He will seek the Republican nomination to challenge DiNapoli, an incumbent Democrat...MORE


  HUFFINGTON POST - THE BLOG    By Josh Rudolph and Jonathan Trichter    08/07/2012 05:58 pm ET

HUFFINGTON POST - THE BLOG

By Josh Rudolph and Jonathan Trichter

08/07/2012 05:58 pm ET

How the GASB’s New Pension Standards Could Make Things Worse

The underfunding of state and local public pensions in the U.S. is around $4 trillion. That amounts to the largest local fiscal crisis facing our nation. The cost ultimately will dwarf that of TARP, the Fannie Mae/Freddie Mac bailout, the S&L bailout, or any other recent American financial crisis...MORE


  By Jonathan Trichter    Thursday, February 22, 2018, 1:14 PM

By Jonathan Trichter

Thursday, February 22, 2018, 1:14 PM

Why Cuomo's proposed SALT fix is dead on arrival: There's one enormous reason he can't restructure N.Y.'s personal income tax

In the wake of an overhaul by President Trump and congressional Republicans, Gov. Cuomo is designing a workaround for New Yorkers who face an increase in their federal taxes. The scheme would have employees pay less in state personal income taxes, which are no longer fully deductible at the federal level, while employers will pay more in payroll taxes, which are exempt...MORE


  Contact: Kerri Lyon    10/4/2013

Contact: Kerri Lyon

10/4/2013

SAVE OUR STATES: A Full Analysis of the All-In Funding Costs for District Public Schools and Charter Schools

October 4, 2013 (New York, NY) - A study released today by municipal finance experts Harry Wilson and Jonathan Trichter of the nonpartisan group “Save Our States,” shows what the New York City Independent Budget Office would have found, had its comparisons of charter and district school resources estimated the cost of retirement benefits using more responsible assumptions...MORE


 

 

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