The New York Racing Association is pushing to slow galloping pension costs — by putting newly hired unionized racetrack workers into less costly 401(k) plans.

NYRA’s 2012 budget plan sets aside $7.7 million for pensions — an eye-popping 29 percent increase over the $5.5 million spent last year, officials said at a hearing yesterday.

NYRA has 603 active union employees. Pension plans for its 367 nonunion employees have already been converted to 401(k) plans. Any changes have to be negotiated with NYRA’s 25 unions.