Whats the latest on the early retirement option?
Not surprisingly, we’ve received numerous e-mails and questions about the early retirement option recently agreed to as part of the addition of Tier 5, a new public retirement tier that went into effect Jan. 1. Here’s what we know now: There is clear legislative intent to create a 55/25 retirement option this year for NYSUT members. This would allow certain individuals age 55 and older with at least 25 years of service to retire with no reductions if retirement occurs within an established window. We believe the window will be near the end of the school year, probably a three-month option open in June, July and August. The legislation has not yet come before the Legislature, but we expect lawmakers to take up the matter soon. Feel free to mention to your own elected officials that we understand the Legislature is committed to acting on this legislation soon and we appreciate their support as this issue moves forward. When it is enacted, we will post information at www.nysut.org and in
