Topics in the News:
benefits

News stories | March 22, 2012 >>

UFT officials are urging members to sign petitions to nominate UFT Treasurer Mel Aaronson for re-election as a teacher-member of the Teachers’ Retirement System board. Aaronson was endorsed by acclamation by the Feb. 15 Delegate Assembly. Aaronson has been actively involved in union affairs for more than 50 years.

News stories | March 22, 2012 >>

State lawmakers on March 14 approved a measure to cut the retirement benefits for future public employees, including New York City public school educators, in what UFT President Michael Mulgrew denounced as a maneuver to “penalize future public workers around the state for the mistakes made by Wall Street.”

News stories | March 22, 2012 >>

Faced with a state pension system decimated by Wall Street’s 2008 meltdown, labor leaders including UFT President Michael Mulgrew converged on the Capitol on March 12 to demand new legislation that would allow the state attorney general to recoup pension losses caused by fraud.

Press releases | March 15, 2012 >>

New York State lawmakers, at the urging of Gov. Cuomo, voted on March 15 to cut the retirement benefits for future public employees including New York City public school teachers. The legislation, which takes effect on April 1, raises the minimum retirement age to 63. It will also require most workers to increase the portion of their salaries that they contribute to the pension system, with the highest income earners contributing 6 percent.

Secure your future | March 8, 2012 >>

The mayor and the governor are still pushing to set up an inferior pension plan for new hires. We hope you have contacted your state legislators and the governor and told them not to further financially weaken the middle class by taking away public employee pensions!

Secure your future | February 23, 2012 >>

The fight to preserve pensions has really heated up. Gov. Andrew Cuomo has proposed a new pension tier for new public employees — Tier VI. Under the proposal, new employees would have to contribute at a higher rate while the formula for calculating their pension would result in smaller pensions.

Comments | February 23, 2012 >>

Mitt Romney in his Florida stump speech kept repeating that the Obama administration’s health care act cut $500 billion out of Medicare. He omitted the following: The $500 billion came out of the overpayments to the private insurers, Medicare Advantage, over 10 years. This was done to save the Medicare trust fund which was going into the red or bankruptcy by 2017.

Comments | February 23, 2012 >>

The following letter was written to two state lawmakers: I am opposed to a Tier 6 pension plan. That would be a disaster for public education and our students. Why? Because it would discourage the best and the brightest of college graduates from going into teaching in our New York City public schools.

Secure your future | February 2, 2012 >>

By far, the most common retirement date for UFT members is July 1. Last school year, 1,979 members of the Teachers’ Retirement System retired in July and 221 retired in August. This is almost 60 percent of all retirees in 2011. In order to have a smooth retirement experience, members planning on retirement this summer should begin preparing now.

Comments | February 2, 2012 >>

Since our mayor and governor are so adamant about trying to replace city and state union workers’ pension plans with 401(k) plans, I think they should both lead by example. That being the case, I propose that the pension plans of all state and city elected officials, including their political appointees, should be changed to 401(k)s before such changes are proposed for the workforce.

News stories | January 19, 2012 >>

In order to keep the UFT Welfare Fund’s benefits secure not only for the present time but also for the future, changes have been made to the prescription drug plan and the dental plan, reported the Fund’s Executive Director Arthur Pepper. Members were sent a letter and information outlining these changes in December.

News stories | December 22, 2011 >>

As a result of the UFT Welfare Fund’s annual review process, it was determined that changes to the prescription drug plan and the dental plan were needed to ensure that the benefits offered to more than 300,000 in-service members and their covered dependents are protected now as well as into the future, reported the Fund’s Executive Director Arthur Pepper.

News | December 8, 2011 >>

Beginning in 2011, the Affordable Care Act required Part D enrollees whose incomes exceed the same thresholds that apply to Part B enrollees to pay an income-related monthly adjustment amount, in addition to their Part D plan premium. The income related adjustment will be deducted from your Social Security check.

National education and labor news | November 10, 2011 >>

The Florida Education Association is suing in state court to overturn a law making government workers in the Florida Retirement System contribute 3 percent of their salaries to their pensions — the first such charge in almost four decades. The union says the law is unconstitutional and unilaterally rewrites a pension agreement in place since 1974.

News stories | November 10, 2011 >>

UFT President Michael Mulgrew, City Comptroller John Liu, Mayor Michael Bloomberg and other municipal union leaders announced an agreement in principle on Oct. 27 to create a new investment advisory board that will oversee the investment process for all five New York City pension funds.

News | October 27, 2011 >>

UFT President Michael Mulgrew, City Comptroller John Liu, Mayor Bloomberg and other municipal union leaders announced an agreement in principle to create a new investment advisory board that will oversee the investment process for all five New York City pension funds while retaining the independent status of each fund. The plan, still in its exploratory phase, will need approval from Albany.

Retired teachers chapter news | September 8, 2011 >>
The battle for an automatic cost-of-living adjustment for retirees is long since won, but we have not retired from the field. The UFT and NYSUT continue to plug away in Albany to improve the COLA.
Retired teachers chapter news | September 8, 2011 >>

The battle for an automatic cost-of-living adjustment for retirees is long since won, but we have not retired from the field. The UFT and NYSUT continue to plug away in Albany to improve the COLA.

Retired teachers chapter news | September 8, 2011 >>
Another school year begins. Unfortunately this is not a year of hopeful, new beginnings. Our brothers and sisters still in the classroom have escaped threatened layoffs but face budget cuts that mean soaring class sizes, supply shortages and scores of unforeseen problems.
Secure your future | September 6, 2011 >>

A recent survey by Fidelity of more than 500 corporate employees in U.S. employer-sponsored defined-benefit pension plans showed that 71 percent of these participants were not aware of how their plans worked. UFT members who take advantage of the union’s many pension services are more knowledgeable.

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