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Fix Tier 6

Tom McMahon

Labor Relations Specialist

PUBLIC

SCHOOLS

UNITE US

Enrolling Members in the Effort

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Fix Tier 6

It’s been over a decade since Tier 6 became part of the New York State pension system.

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Since then, over 100,000 NYSUT members earn a significantly reduced pension as compared to earlier tiers.

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How Bad Is it?

TIER 4

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    • Can retire at 55 with 30 years of service (no penalty).

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    • Employee pension contributions are capped at 3% salary and end after 10 years of service.

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    • Pension payout calculated with a Final Average Salary calculation of top 3 years.

TIER 6

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    • Can retire at 63 (or incur severe financial burdens).

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    • Employee pension contributions increase from 3% to 6% and are paid for an entire career.
      • $45,000 or less = 3%
      • $45,001-$55,000 = 3.5%
      • $55,001-$75,000 = 4.5%
      • $75,001-$100,00 = 5.75%
      • More than $100,000 = 6%
    • Pension payout calculated with a Final Average Salary calculation of top 5 years.

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Why Does Fixing Tier 6 Matter?

It‘s about fairness.

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It‘s about dignity.

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It‘s about protecting our profession.

It’s unfair that some NYSUT members must work longer, and contribute more, to earn a significantly reduced pension. This should anger ALL union members.

The hallmark of a public-service career is the promise of a dignified retirement. With Tier 6, the state abandons its commitment to that guarantee.

Forcing younger members into a lesser pension system undervalues our profession. Our work is important. Our pensions should reflect that.

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THERE’S HOPE!

The work is already underway.

In the 2023 NYS Budget, we lowered the vesting period from 10 years to 5 years.

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How do we affect policy to Fix Tier 6?

Coordinated Collective Action

VOTE

COPE

Electing Pro-Public School Candidates

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fixtier6.org/get-involved

FIRST STEP:

Enrolling members in Fix Tier 6 so we have the contact information for Coordinated Collective Action statewide

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What do you need?

    • A presentation to train Building Representatives and inform members
    • Flyers about Fixing Tier 6 with the QR Code
    • You can order additional “swag” on the Fix Tier 6 online store: fixtier6store.org
    • VOTE-COPE forms