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Editorials

Pension choice

New York Teacher

The bulk of the UFT’s 120,000 DOE-employed in-service members and 90,000 retirees belong to the Teachers’ Retirement System of the City of New York. About 5,500 union members, including occupational and physical therapists, school nurses, per diem substitutes and others, do not. Instead, they belong to the smaller New York City Board of Education Retirement System (BERS). These members want the opportunity to switch to TRS. In early June, the state Legislature passed a bill that would give them that choice. It requires the governor’s signature to become law.

TRS is more attractive for many reasons. It is a larger operation with a solid track record, more educational programs and a reputation for better customer service. TRS has three teacher-members representing the UFT on its seven-member board, whereas none of the 28 BERS trustees is affiliated with the UFT. TRS has more choices of how to invest a tax-deferred annuity and a better accidental-disability retirement benefit. Unlike TRS, BERS does not have a retirement option at age 55 with 30 years of service with an unreduced pension.

In recent years, New York City Comptroller Brad Lander and the special commissioner of investigation for the New York City school district have raised multiple concerns about BERS, including inappropriate pay increases for the executive director and the deputy executive director.

If signed into law by Gov. Kathy Hochul, the legislation would ensure equity among UFT members by allowing current and future DOE-employed UFT members who are automatically enrolled in BERS at the start of their careers to transfer to TRS. UFT members, who will have a lifelong relationship with the pension system, should be able to join the system they have the most confidence in and that they feel provides the best benefits and service.

Related Topics: School Nurses