Pension contribution

Pension contribution should be enhanced for the benefit of the TWU Local 100 membership especially in the contract of 2012 similar to how the medical contribution was handled in the current contract. There is no issue that is dear to the TWU Local 100 membership like the pension. The issue arose in the titles that require physical toll due to the fact that when the average member is reaching the age of 55 to 65 they cannot do the overtime - they are tired and their bodies succumb to many medical issues by that time. Many who are in those titles feel that their contribution when they were younger was higher and they should have the right to pick their best five years from the first year of employment to the 25th year of service instead of the current restriction. The current restriction is based on the three best years that must come from the last five years of work. In addition those members feel that the MTA should match any monies that the member put in their retirement savings accounts 401K or 457K.

It is also accurate that the New York City Employees’ Retirement System - NYCERS is in the business of making monies not losing it. NYCERS realistically cannot change its plans just to oblige to a certain few (39,000 - TWU Local 100 membership). We here in why did you join the union believe that if NYCERS pays out more, then the contribution points have to be raised to whatever figure so as to balance their books - we are also aware that the TWU Local 100 membership if polled to pay more points then the majority will reject that thought. NYCERS is legislatively controlled that is another hurdle to overcome - also their plans have a safeguard mechanism. To be exact restrictions or caps in the event one wishes to embellish their pension are capped at ten percent.

We here in why did you join the union in the contract of 2012 prefer a blend of both. First the NYCERS plans should stay intact without any changes - we should not yield to the MTA idea of scuttle NYCERS plans in favor of the 401K or 457K. There should be a memorandum of understanding between TWU Local 100 and the MTA that requires MTA to contribute matching funds to the TWU Local 100 membership retirement savings accounts 401K and 457K. Therefore that would be fair to the members that have to do physical work like the track workers, mechanics or cleaners.