UUP achieved its long sought-after goal of pension equity for its members, as the result of Gov. Eliot Spitzer signing the Optional Retirement Plan (ORP) pension equity bill into law.

UUP President William Scheuerman thanked UUP members who sent more than 4,000 faxes to the governor urging him to sign this bill.

“He heard us,” Scheuerman said.

The new law means that state employees who participate in an ORP with 10 years or more of state service will no longer be required to contribute 3 percent of their salary to their ORP retirement accounts. The effect of this new law is especially significant for UUP, since 64 percent of its members participate in an ORP, according to figures from SUNY.

Current employees with 10 years or more of service who are paying 3 percent to their ORP will see their contribution eliminated over the course of the next three years.

Beginning in 2008, New York state will pick up 1 percent of the 3 percent contribution each year on April 1, until the entire 3 percent is covered.

Thousands of UUP members in retirement tiers 3, 4 and 4a (also known as Tier 5) will then have the same contribution levels as their colleagues in the state’s other two retirement systems. The 3 percent contribution for employees in the Teachers’ Retirement System and the Employees’ Retirement System after 10 years of state service was eliminated by legislation in 2000.

Scheuerman hailed the actions of the Legislature and the governor as a victory for pension justice.

“By enacting this bill, the governor and Legislature demonstrated their commitment to fair and equitable treatment of all public employees,” Scheuerman said. “Thousands of UUP members will now receive equity with their colleagues in other state retirement systems.”

NYSUT President Richard Iannuzzi said the new law spells big benefits for SUNY.

“It will also help public colleges and universities to continue to attract and retain the best and brightest faculty and professionals in the country,” he said.

ORP participants with less than 10 years of state service will continue to contribute 3 percent of their salary toward their pension, but the state will pick up the 3 percent payment once an employee reaches the 10-year threshold.

— Donald Feldstein