Agreement on 55/25 retirement option and voluntary school-wide bonuses

Agreement on 55/25 retirement option and voluntary school-wide bonuses

The UFT, the city and the Department of Education on Oct. 17 agreed on
mechanisms to implement two of the outstanding provisions of the 2005
collective-bargaining agreement: an option to allow in-service educators to
retire at age 55 with 25 years of service, and a pilot program offering
school-wide bonuses in 200 high-needs schools.

"This agreement creates pro-active programs that address two major issues
facing our schools, making the profession economically viable and fostering
collaborative learning environments where teachers have real voice," UFT
President Randi Weingarten said.

Pending legislative approval, in-service educators on Tiers II, III and IV
will be able to retire at 55 with their full pensions once they have
completed 25 years of service, as Tier I educators now can. Educators will
have six months to decide whether to opt in to this enhanced pension program
at a cost of a 1.85% pension contribution. Future hires will be
automatically enrolled in a 55/27 plan and will make an additional 1.85
percent pension contribution.

"We are delivering on the promise we made to work with the city on a
retirement benefit that could serve as an incentive for teachers to work in
and stay with the New York City public school system," Weingarten said.

Also, school-wide bonuses will be offered to approximately 200 of the city's
high needs public schools on a voluntary basis. Staff members must vote to
opt in by a 55% majority before a school will participate.

Unlike individual merit pay plans, which set teacher against teacher,
school-wide bonuses encourage educators to work together and help each other
improve instruction for all students.

Each school's award will be equal to approximately $3,000 multiplied by the
number of UFT-represented staff members in the school, but each school will
be free to determine how the money is distributed among the members.

A compensation committee of four - made up of the principal and another
administrator along with two UFT-represented educators elected by their
colleagues - will decide by consensus how to divide the bonus. If the
committee is unable to decide on the division of the bonus, it will be
forfeited.

"School-wide bonuses properly refocus the misguided debate over individual
merit pay," Weingarten said. "Respecting and understanding the importance of
teamwork and collaboration is precisely why the UFT has opposed the idea of
individual merit pay for teachers - especially when based solely on student
test scores. This school-wide program recognizes and builds upon a core
philosophy that says students learn, achieve and benefit most when all
educators in a school collaborate to provide the best possible education."

Read the full story at www.uft.org/news/issues/press/retirement55_25


Go to edwize.org to discuss the
agreement with fellow UFT members.

Jeff Zahler
Director of Staff