City Staff Ideas Challenge
#nycspeaks2022 Share your ideas for bold actions the Mayor should take
Fix Tier 6 now.
Most of the NYC employees are currently in Tier 6. They are paying out of pocket for their own retirement / pension from income that is not enough. Make Tier 6 Tier 4 or have people buy into Tier 4. Let tier 6 be vested at 5 years rather than 10years. For every dollar put into the plan, NYC should be able to match at least half of it or even a quarter. We need to know there is some type of light at the end of the tunnel of our dedicated lives to making sure this city runs.
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Conversation with KIM
I saw this , but i think it only benefits the older people. If they came into the job at an older age and can retire before the younger folks. Unless im understanding it wrong, Open to the explanation,
Yes your reading it kinda wrong. Kim People who came into the system around 2001 or 04 was put into an early retirement plan 5/57. So if they come in at 30yrs old they work 27 yrs and can retire without any penalties, unlike me whom came in 91 and doesn't have this option.I have to stay till im 62yrs old under my tier 4 plan 5/62. This is not Fair.i can leave tomorrow but I'll endure severe penalties
Amazing knowledge this is helping me allot
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