September 23, 2015:
Bi-Annual Membership Meeting:
Wednesday October 28th 12pm, Room 137. Lunch wiil be provided. You must charge accruals if you remain past 12:30. You must pre-register to attend. Register by calling: Ralph Mabb: 486-5876, Jim Parker: 474-3320.
September 21, 2015:
The Membership Benefits Trustees are pleased to announce that the Higher Education Incentive Program (HEIP) tuition reimbursement pilot program will be extended for the Fall, 2015 semester. The program provides active PEF members with tuition reimbursement of up to $600 for one job- or career-related, successfully completed post secondary course at an accredited college or university. In addition to extending the program, deadlines for past applications and for Fall 2015, registrations have been added to the pilot program as follows:
Fall 2015 Semester
October 31, 2015: Fall Application Deadline
Members MUST apply online by midnight, October 31, 2015, to be accepted for Fall 2015. Requests submitted after midnight, October 31, 2015, will not be accepted.
February 15, 2016: Fall Supporting Documentation Deadline
All supporting documentation for Fall 2015 MUST be received by midnight, February 15, 2016, to be accepted for reimbursement. No documentation will be accepted after this date.
Fall 2014, Spring 2015, and Summer 2015 Semesters
September 30, 2015: Reimbursement Request Deadline
All requests for reimbursement, and all required supporting documentation, MUST be received by midnight, September 30, 2015, to be considered. No exceptions permitted.
The HEIP program was initially introduced for the Fall, 2014 semester to help bridge the gap left when the State refused to restart the PS&T tuition program. The program has issued 1,754 reimbursement payments for courses ($998,971) and books ($75,056.02) to date. The Board will reevaluate the program at the end of 2015 to determine if MBP is fiscally able to sustain this pilot program.
Three promotional emails were developed to communicate the program extension and new deadlines:
The program extension and new deadlines have also been announced in the The Source – the PEF MBP enewsletter, The Communicator, and on the MBP website.
September 9, 2015:
Programs and Events:
August 14, 2015:
Recent Division 211 Activities:
May 26, 2015:
DiNapoli: State Pension Fund Reaches Record High of $183.5 Billion:
Earns 7.16 Percent Return on Investments in State Fiscal Year 2015
New York State Comptroller Thomas P. DiNapoli today announced that the New York State Common Retirement Fund (Fund) reached a record estimated value of $183.5 billion as of the close of the state fiscal year on March 31, 2015.
"The Fund performed well over the past year despite the challenges in the market," DiNapoli said. "We achieved a solid return on investments in the midst of global volatility thanks to our talented investment staff and our diversified asset allocation."
The Fund is the third-largest public pension fund in the country and remains one of the nation's best-managed and best-funded pension plans. The New York State and Local Retirement System provides retirement security to more than one million active state and local government employees, retirees and their beneficiaries. Over the last 20 years, 80 percent of benefits have been funded from investment returns. Employer and employee contributions cover the remainder of the benefits cost and are determined by investment results over a multi-year period along with numerous other actuarial assumptions, including wage growth, inflation, age of retirement and mortality. The Fund's long-term expected rate of return is 7.5 percent. Strong returns in recent years have resulted in back to back consecutive reductions in employer contributions in fiscal years 2014-2015 and 2015-2016.
May 6, 2015:
Contract Talks Continue:Formal talks for the PS&T contract between PEF and the Governor's Office of Employee Relations (GOER) are continuing today, May 5th and Wednesday 6th.
The initial meeting on April 15th was very productive. The PEF contract team presented its conceptual proposals and the sides agreed on dates for future negotiating sessions.
As negotiations continue, PEF will continue to keep members updated through the PEF website and via our social media channels, Facebook and Twitter.
Also, sign up on the PEF website to Become A Contract Activist.
As we negotiate our next contract, your personal professional stories will assist us at the bargaining table to illustrate the challenges our members face and the value we provide to the citizens of New York State.
April 6, 2015:
Annual Membership Meeting:Friday May 22nd 12pm Room 137. A Pizza Lunch & Giveaways will be provided. You must charge accruals if you remain past 12:30. You must pre-register to attend. Register by calling: Ralph Mabb 486-5876 or Jim Parker 474-3320.