As comptroller, Tom DiNapoli is the guardian of the state's fiscal health and the sole trustee of the Common Retirement Fund.

So, even in these tough economic times, educators should feel some relief when he tells them, "Your pensions are safe and protected, and we're going to work hard to keep them so."

Addressing the RA delegates, DiNapoli affirmed that, in the face of carping from conservative sources that public employees' pensions are a source of fiscal instability, "the defined-benefit plan in New York must be preserved and protected. We have to stand up for that plan and stand together."

Referring to the effects of the national recession, DiNapoli said that even with the recently concluded budget negotiations in Albany, "The reality is we're not out of the woods yet; the negotiations just ended don't complete the process."

Finally, he promised he would "track and account for" the federal stimulus money.

"This can't be like TARP," referring to last year's bank bailout that came with few strings and little oversight, he said.

"Just because corporate Amer-ica has gone back on its commitments is no excuse" for elected officials to do the same, he said.