A bigger pension check is in the mail
NYSUT retirees will see more dollars in their monthly retirement benefits this month. The Cost-of-Living Adjustment for 2007 translates to a maximum monthly increase of $21.
The figure represents an increase of 1.4 percent applied to the first $18,000 of pensions under New York's permanent, automatic COLA legislation.
The COLA went into effect in September 2001, tying increases in retirement benefits for public employees to the Consumer Price Index.
NYSUT and other unions lobbied for years for increased benefits for retirees, especially those who retired with low annual pensions. In 2000, more than 10,000 NYSUT members and other union activists rallied at the state Capitol for permanent COLA legislation.
The maximum monthly benefit has increased by $147 since the legislation took effect, said NYSUT Executive Vice President Alan Lubin.
The statewide union continues to seek increased benefits for older retirees whose pension benefits are still lacking and legislation that will provide greater protection from inflation for all retirees.
