Union Opposing Pension Money Grab

MARCH 19 – TWU Local 100 has registered our strong opposition to a budgetary measure that would shift NYCERS pension costs into the future. The bill, designated #70043-04-5 in the Governor’s budget, would allow the City and the State to stop contributing to public employee pension systems including the New York City Employee Retirement System (NYCERS), refinancing this obligation to 2033.

Speaking to an audience of over 2,000 transit workers at the Union’s 2025 Lobby Day in Albany, President John V. Chiarello said, “they’re trying to underfund our pension and take a five-year pause in contributions. As I walked the halls in Albany, I told them, hell no – we’re not doing that. I’m a NYCERS Trustee. Our NYCERS pension is good. If you ever want to get Tier 6 changed, you can never underfund the pension, because that’s where the money comes from. Local 100 is against any underfunding of this pension.”

The legislation passed the Assembly earlier this month without apparent scrutiny, but that changed when Local 100 and other labor representatives on the board of the pension system got wind of it. Our activism has sidelined the money grab for now, but we must remain vigilant that this isn’t raised again in the future.