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     Current Issue Highlights Highlights Archive             Get to know your Business Agent today!  Find out how the union makes a difference on the job. |
Newsline: February 2001 GOV SIGNS PENSION BILL ELIMINATING INEQUITIES "Some of our members, mostly those who have worked many years at modest wages, received an early holiday present when Governor Pataki signed into law a bill the union endorsed which eliminates unfair and discriminatory pension benefits for some Tier 2 members," Local 237 President Carl Haynes said last month. The bill, which was sponsored by Staten Island Assemblyman Eric N. Vitaliano, gets rid of limitations on city employees in Tier 2 which originally applied to all retirement systems. It was signed by the Governor Dec. 8. It amended the retirement and social security law relating to the way pension benefits were calculated for members of the New York City Employees' Retirement System and the New York City Board of Education Retirement System. The new law eliminates the provisions of Article 11 which limited retirement benefits to some Tier 2 members to 60 percent of the first $15,000 of their final average salary; 50 percent of final average salary in excess of $15,000, and 40 percent of final average salary in excess of $27,300. Patricia Stryker, director of Local 237's Political Action and Legislation, said that although the 60/50/40 limitation provision was not applicable to most Tier 2 members, it did hurt city employees who had many years of credited service but retired at a low average salary. Haynes noted that these Tier 2 members, who had been putting off retirement due to the inequities in the law, can now end their careers and enjoy a pension with higher monthly payments. |
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