Whereas, New York Governor Kathy Hochul has proposed a FY 2026 budget amendment (70043-04-5) that would change the annual schedule of payments that New York City contributes to three of the city pension systems – TRSNYC, BERS, and NYCERS – which includes both systems that enroll UFT-represented employees and retirees; and
Whereas, the proposed schedule of payments would delay the full funding of those pension systems from 2032 to 2044; and
Whereas, the proposed schedule of payments lowers the city's pension contributions by an estimated $8.6 billion from 2025 to 2032; it then requires increased contributions of $13.8 billion from 2033 to 2044; * and
Whereas, those future payments risk straining the city budget in ways that could lead to cuts in education and other essential services; and
Whereas, the UFT Retired Teachers Chapter (RTC) opposes changing the city's schedule of payments; and
Whereas, New York City Comptroller Brad Lander does not support changing the city's current schedule of payments; * and
Whereas, the teacher trustees of the Teachers’ Retirement System of New York City do not support changing the city's current schedule of payments; ** and
Whereas, the treasurer and assistant treasurer of the United Federation of Teachers do not support changing the city's current schedule of payments; ** be it
Resolved, that the RTC shall contact New York Governor Kathy Hochul, State Senate Majority Leader Andrea Stewart-Cousins, Assembly Speaker Carl Heastie and other state legislators to inform them of the RTC's opposition to the proposed amendment; and be it further
Resolved, that the RTC will take this resolution to the UFT Delegate Assembly and ask our union to inform our state legislators that the UFT is opposed to putting Budget Amendment 70043-04-5 into the FY 2026 New York State budget.
* New York City Comptroller Brad Lander's testimony at the FY 2026 Preliminary Budget Hearing before the New York City Council Committee on Finance on March 5
** TRSNYC teacher trustees in their email to RTC chapter members on March 25 and their email to NYC Actuary Marek Tyskiewicz on March 6.