To the Editor:
Several state workers’ unions including mine (PEF) arrived at a contract months after the end date of our former contract. I worked through July 2007, and was, therefore, an active employee in NYS service from April 1 to July 28, 2007 (four months at a pay rate that has since been amended by the new contract).
I expect this change in pay should trigger a recalculation of my final average salary (FAS) and an adjustment of my pension payments. Several thousand NYS employees who retired between contracts may be similarly affected.
What should we do to make these recalculations and adjustments happen? Will they be automatically done by the retirement system?
TOM COSTELLO
Elmira
Editor’s Note: According to the Retirement System, it automatically reviews any benefits that may change as the result of retroactive payments in a union contract. Retired union members don’t need to request this.
So far, the Retirement System has identified at least 1,630 PEF retirees who may need a benefit recalculation as a result of a retroactive payment.
While recalculation generally results in an increase in a retiree’s benefit, because of salary limitations for certain tiers, the benefit may remain the same. If the pension benefit is changed, a one-time adjustment back to the date of retirement will be included with the retiree’s next regular pension payment and a letter detailing the changes will be sent.
What happened to 25/55 bill?
To the Editor:
Please give an update on the 25/55 retirement bill. This is supposed to be one of PEF’s priority bills. What happened to this bill?
KARICHERIL CHERIAN
Orangeburg
Editor’s Note: This bill, A.03607C/S.5732C, did not make it out of committee in either house of the state Legislature during the 2008 regular session.
The bill would allow members of pension Tiers 2, 3 and 4 of the state and local retirement systems to retire with no reduction in benefits after they reach age 55 and have at least 25 years of service credits.
The Communicator Letters policy
We welcome letters to the editor about union issues and events relevant to PEF's diverse membership. All letters are subject to editing for space, fairness and good taste.
Please keep them brief (up to one page, double-spaced or a maximum of 250 words), and please include your name and phone number for verification.
Send letters to thecommunicator@pef.org:
The Communicator
Public Employees Federation
P.O. Box 12414
Albany, N.Y. 12212-2414
Email to Sherry Halbrook, Editor or Darcy Wells, Editor-In Chief
