TIER 6 PENSION UPDATE
Tier 6 has been updated to allow public sector employees, including those in Mayoral agencies, NYC Health and Hospitals, NYCHA, DOE, School Construction Authority, Transit Authority, CUNY and the State to vest in the pension after 5 years instead of 10 years. Employees still need 10 years to be eligible for medical coverage. There is no change to the pension formula, time required to get to a full service pension, or calculation of benefits. All employees in Tier 6 pay a percentage towards their pension based on their salary, for their entire career. Another change is that overtime will not be subject to the contribution rate, temporarily, for a two-year period of 4/1/20 to 3/31/22. As more information becomes available we will share that with you.
JUNETEENTH HOLIDAY JUNE 20
The holiday of Juneteenth has been added to the Citywide agreement and falls on Sunday, June 19, this year. If you work on the actual holiday of June 19, you get compensated with premium pay and a day. Monday, June 20, 2022 will be the observed day; if you work on the observed day you get the comp day in addition to regular pay. It will follow the same rules as our current holidays. The holiday is for full-time employees who are covered by the Citywide agreement as well as 220 titles, Department of Education employees, NYCHA and NYC Health and Hospitals, as well as our NY State members. Employees who are required to work on the holiday will receive holiday premium and a day added to the leave bank for later use. If you work the observed day, a day will be added to the leave bank for later use.
We have been and are in the process of negotiating with authorities, cultural institutions and the library systems as well. Other nonprofit/private sector units may also have added the day. We are actively negotiating this benefit for all of our members. If you have any questions please contact your union representative.