ALBANY - Democratic State Comptroller Thomas DiNapoli is hoping to win a third-term on Election Day, but in order to do so, must first beat his Republican opponent, Jonathan Trichter.
Trichter, an investment banker, has said the heavily favorited DiNapoli lacks the skillset required to hold office and accused the incumbent of politicizing his office to serve the interest of Albany insiders.
The race is one of several statewide contests on the ballot Nov. 6, including races for governor and attorney general.
"DiNapoli was appointed by his friends in Albany and hand picked by (former Assembly Speaker) Shelly Silver over the objection of every editorial board in New York state," he said in an interview with the USA Today Network's Albany Bureau in October.
"It's a professional office that requires a particular set of skills he didn't have."
DiNapoli was appointed comptroller by the state Legislature in 2007 following the resignation of Alan Hevesi amid corruption charges.
The appointment sparked controversy in Albany, with then-Gov. Eliot Spitzer calling DiNapoli unqualified to hold the position.
DiNapoli said he has effectively run the $200 billion pension system with 1 million members since taking office and rooted out some of Albany's corruption through audits and working with the Attorney General's Office.
"We've been very much a part of that oversight in identifying corruption and then holding those who do it responsible," DiNapoli said.
After his appointment, he was elected to the post in 2010 and 2014. He had $2 million in his campaign coffers this week, compared to $117,000 for Trichter.
The state has recovered $54 million in stolen taxpayer money since 2011, according to DiNapoli, who said he would continue to be an independent voice in Albany should he be re-elected.
"In many local communities, we are the only independent oversight that's happening," he said.
"We make it easy for taxpayers to report incidents of corruption."
The comptroller is the sole trustee of the pension fund for state and local government workers, and it is one of the largest public pensions in the nation.
The job also includes auditing of state and local governments and reviewing state contracts. The four-year term comes with an annual salary of $151,500.
Jonathan Trichter, a Democrat running on the Republican line for New York state comptroller in 2018.
Feisty TV debate
The candidates held their only televised debate Monday, and it was a testy affair.
A registered Democrat running on the Republican ticket, Trichter, 47, of Manhattan, portrayed himself as a political outsider seeking to fight corruption and bring greater return on the state's investments.
He accused DiNapoli of quietly signing off on a $103,000 payment in 2012 with two women who accused the late Assemblyman Vito Lopez of Brooklyn of sexual harassment. Lopez ultimately resigned amid ongoing allegations.
"You signed off on hush-money payments to cover up that harassment, and that allowed Vito Lopez to continue hiring female staff, whom he also harassed," Trichter charged during the debate.
"You have never apologized for your role in that coverup."
DiNapoli was angered by the accusations.
"You know, John, I have run for office many times, and I have to say I have never, ever had an opponent that more distorts the facts to their political advantage than you," said DiNapoli, 64, who was first elected to a school board on Long Island at age 18.
"I was not involved in the negotiations of that settlement. At all," DiNapoli continued.
Trichter then pulled out newspaper clips of DiNapoli's office approving the settlement money, which led to a rebuke from the Spectrum News moderators.
"Put that crap away. We said no props, and you agreed to it," said NY1 political anchor Errol Louis.
Pension fund fight
Trichter said the state's pension fund has underperformed under DiNapoli, pointing to $6 billion paid in fees to hedge funds and private equity managers.
"This comptroller, who is not a professional investor, has undershot expectations over his entire 11 year tenure as comptroller on investing the public pension funds assets by $65 billion," Trichter said.
"If it sounds like a lot, it's only because it is."
DiNapoli also failed to audit state entities who have been marred in corruption scandal like the SUNY Polytechnic Institute, according to Trichter, who vowed to do just that.
"He's not exactly a guy who spoils for a fight," Trichter said.
But DiNapoli has rebuffed Trichter's attacks, saying he is a Democrat turned "Republican conservative."
DiNapoli said he has been aggressive in auditing powers, leading the arrests of numerous local officials on fraud and abuse of taxpayer money. DiNapoli has sought greatest auditing powers over SUNY projects, but has been rebuffed by the state Legislature and Gov. Andrew Cuomo.
New York's pension fund is 98 percent funded, according to DiNapoli, who said the fund has increased $100 billion in the past decade -- making it one of the best funded pensions in the nation as other states struggle with pension obligations.
"That's an enviable place to be in," he said.
DiNapoli added, "It's easy to look backwards when investing and say, 'If you did X, Y, and Z you would have done more.'"
"The reality is he's very selective in what numbers he uses, what years he looks at."
