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Tier 6 members lose up to $1.4 million in retirement savings compared to Tier 4.
Tier is independent of age. Some members in Tier 6 are decades older than Tier 4 members. Some went out to get more education or industry experience to bring to the classroom, then got hit with the multi-million dollar Tier 6 penalty as a result of that choice. Let’s fight for a compensation package that rewards experience and expertise, not punishes it!
Learn more about Tier 4 and Tier 6 here: TRS Tiers and History
Prior to 2009, UFT members received 8.25% return on our fixed return TDA. All other titles, including DOE administrators and CUNY employees, still get 8.25% today, but we only get 7.00%.
Think 1.25% doesn’t make a difference? Think again. The difference adds up to more than $2 million over 40 years. That’s over $2 million less in retirement benefits UFT members now receive. The change impacts UFT members of all tiers, 1 through 6.
Remember to vote at your school on May 8! Ben Morgenroth is the most qualified candidate.