Dear Members,

COBA is happy to announce that the 2022 New York State Budget has been passed and it includes improvements to Tiers 5 and 6.

COBA has been working closely on this issue as well as changes to the Bail Laws in Albany with our partners in the Downstate Correction Coaltion.

The Tier changes in the 2022 State Budget gives members the ability to earn a vested pension after five years of service as opposed to ten years of service that was required for the past ten years. This is a big improvement for our Members in Tiers 5 and 6 and would entitle them to a partial pension should they leave public employment after 5 years but prior to attaining full pension credits.

The other change is the amount of contributions paid by members of Tiers 5 and 6 depending on the amount of money they have earned. Members of Tiers 5 and 6 contribute different percentage rates based on the amount of money they earn. Those percentages have not changed, but any overtime earned in the two years of the Covid-19 pandemic will not increase the percentage amount of money paid by Tier 5 and 6 members. Put simply, the overtime earned during the pandemic will not bump you into a higher bracket of contribution.

NYS Assembly Chairman of the Committee on Government Employees, overseeing pension legislation has stated that going forward, he wants to reduce the pension contributions for all government workers to 3% from a high of 6%.

So far, there has been no mention of what will be done for those Members who have already overpaid contributions. We will continue to keep you updated as we move forward and continue to fight for Tier equity.

In Unity;

Brian Sullivan

COBA President