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Topics in the News:
New teacher articles | February 28, 2013 >>
Whether you’re a teaching rookie or have a few years of classroom experience under your belt, now is the time to lay a solid foundation for a secure retirement.
National education and labor news | February 28, 2013 >>
California’s reduction of pension benefits for public workers last year is under attack by public employee unions around the state.
Editorials | February 28, 2013 >>
Given how passionate and outspoken Mayor Bloomberg is in his advocacy of stronger gun-control measures, one might reasonably expect that he would support an effort to have the teachers’ pension fund divest its shares of stock in gun manufacturing.
Secure your future | February 28, 2013 >>
If you are nearing retirement, remember to have a final pension consultation at the UFT before you retire.
Around the UFT | February 28, 2013 >>
UFT Welfare Fund Health Advisory Committee members had a chance to learn about the new, cutting edge technologies that are transforming cancer treatments at their Feb. 5 meeting at union headquarters.
National education and labor news | January 17, 2013 >>
Acting on a request from the state treasurer, the board of the state teachers’ pension fund in California has begun the process of selling its holdings in some gun and ammunition-clip manufacturers. Treasurer Bill Lockyer’s motion was approved unanimously by the Investment Committee of the $154 billion California State Teachers’ Retirement System.
News stories | January 17, 2013 >>
The UFT Welfare Fund Board of Trustees has approved enhancements to a range of Welfare Fund health benefits, all of which will go into effect over the course of the year.
News stories | December 20, 2012 >>
UFT President Michael Mulgrew announced on Dec. 13 that the Teachers’ Retirement System will allocate $1 billion in post-Sandy reconstruction and other critical infrastructure projects in New York City and the surrounding area.
Secure your future | November 22, 2012 >>
At press time, the Teachers’ Retirement System was operating with limited staff and services because its building at 55 Water St., Manhattan, was closed due to severe flooding from Hurricane Sandy.
Around the UFT | November 1, 2012 >>
To improve health outcomes for both mothers and their newborn babies, the UFT Welfare Fund’s Health Advisory Committee hosted a presentation on Oct. 16 by Childbirth Connection and Emblem Health, the parent organization of GHI (the city health plan which most UFT members opt for), to share information and free resources to help ensure healthy beginnings for new babies.
News stories | September 6, 2012 >>
Recently, the UFT Welfare Fund prescription drug manager Medco merged with Express Scripts. UFT members are familiar with both companies because prior to 2009, the UFT Welfare Fund contracted with Express Scripts for in-service members and currently the New York City PICA program for injectable and chemotherapy drugs is managed by Express Scripts.
News stories | September 6, 2012 >>
The annual transfer period this year to change dental plans runs from the beginning of September through Oct. 15, and the effective date of any newly selected plan is Nov. 1.
Secure your future | June 28, 2012 >>
Every year, the Employee Benefit Research Institute releases its Retirement Confidence Survey, which provides an overview of the issue nationally. In its 2012 report, the institute found that job insecurity, debt and lack of savings weigh on workers’ confidence about retirement.
National education and labor news | June 14, 2012 >>
Voters in San Diego and San Jose on June 6 overwhelmingly voted to pare back retirement benefits for city employees. “While we respect the decision of San Diego and San Jose voters, these measures will have perilous long-term consequences for workers, the economy and the public,” said Dave Low, the chairman of Californians for Retirement Security, a union group.
Around the UFT | May 24, 2012 >>
Some 800 UFT members who are Medicare-eligible or about to become eligible filled the conference room at union headquarters on April 24 to learn everything they needed to know about becoming Medicare card carriers. They listened, took notes and asked lots of questions during the two-hour workshop.
Secure your future | April 19, 2012 >>
In the past two issues, we have reviewed your choices about whether to elect the maximum retirement allowance or take an option to provide for your dependents or beneficiaries, and whether or not to remove a lump-sum before retirement. Now it is time to think about what to do with your Tax-Deferred Annuity account.
News stories | April 19, 2012 >>
At the UFT’s urging, more than 3,000 paraprofessionals and thousands more in other job titles rushed to sign up for and lock in pension benefits before the pension cuts approved by the State Legislature took effect on April 1.
Secure your future | April 5, 2012 >>
There is an irrevocable choice you must make at retirement: Should you take, if available, a lump sum withdrawal of some of the funds in your Qualified Pension Plan (or basic pension plan) before retirement? At retirement, you have to decide whether or not to remove some of the funds in your Teachers’ Retirement System accounts from the retirement system.
Secure your future | March 22, 2012 >>
At retirement, a member must make a decision as to whether to collect the most he or she can collect — maximum retirement allowance — with no provisions for dependents or beneficiaries, or a reduced retirement allowance that will provide for dependents or beneficiaries.
President's perspective | March 22, 2012 >>
hat the governor and state Legislature have done by enacting pension “reform” is a slap in the face to public-sector workers in New York City and across New York State. Current public-sector workers and retirees will not be affected by the sixth pension tier that the politicians in Albany have created, but future hires will have to work longer and contribute more to receive a smaller payout after they retire.