The Bulletin

Tier VI Pension Legislation – Important Information Regarding the Passage of Major Pension Reform

March 27, 2012 9:37 am

Effective Sunday, Apr. 1, 2012, the State of New York has instituted a new tier, Tier VI, in the pension systems for public employees, which significantly changes the terms of retirement. For a summary of some of these changes, please see Governor Cuomo’s press release.

CUNY employees who have already enrolled in a pension system are not affected by this new legislation and will continue in their present tier. 

Employees who are not currently enrolled in a pension system, including part-time employees who have the option to join a pension system, will be enrolled in Tier IV of the pension system if the requisite forms are received by the pension system before April 1, 2012 or will be enrolled in Tier VI of the pension system if the requisite forms are received by the pension system on or after Apr. 1, 2012. 

If you have any questions, please contact your pension system (NYCERS, TRS, TIAA-CREF) or Manuela Alongi or 718.982.2713.

- Hope Berte

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