October 24, 2023 — The President’s Reception, held the first night of each annual PEF Convention, is a chance for members to mingle, get excited for convention and, this year, hear some welcome news from the New York State Comptroller.
“We call this the President’s reception, but I really think it ought to be called the Comptroller’s reception,” said PEF President Wayne Spence. “I really think you’ll want to hear what he has to say.”
New York State Comptroller Tom DiNapoli offered members congratulations on the three-year PS&T contract and praised President Spence for his leadership during the height of the pandemic.
“President Spence must’ve been on the phone with me two or three times a day asking for protective equipment, and what we can do for PEF members,” DiNapoli said. “You know what he did in the contract negotiations this year, right?”
“I’ve worked with a lot of union presidents across our great state, we’re labor strong in New York. But you could not have a better person than Wayne Spence as your president.”
DiNapoli also shared important news regarding payment of the ratification bonus PEF members earned for signing the 2023-2026 PS&T contract.
“I am happy to announce that members on the administrative payroll should see payment on November 8,” DiNapoli said to cheers. “Members on the institutional payroll should see their payment on November 16!”
DiNapoli made the commitment to PEF members to ensure that their pensions will continue to be the best funded in the country. Despite negative trends in the stock market, the comptroller’s office continues to fund the pension at about 90 percent.
“For a publicly funded retirement, that’s a very strong funded status,” DiNapoli said.
DiNapoli added that it is important to keep the pension fund at or near 100% funded.
“That is how we guarantee your retirement security, that is how we have a safe and secure pension for each and every one of you,” he said. “We will not let anybody turn us into a defined contribution state.”
DiNapoli also shared his distaste for Tier 6 of the pension plan.
“We lowered the vesting, with PEF’s strong advocacy, from 10 years to five years, and have had some relief from the overtime during COVID,” DiNapoli said. “Those were good choices. But we have to be mindful of whatever enhancement we’re looking at on the Tier 6 front: What will the cost be? What will it do to the pension fund?”
PEF is pushing in the next legislative session to “Fix Tier 6” by standardizing employee contributions at 3% after 10 years of state service, along with other changes.
DiNapoli conceded that while these are difficult and constantly ongoing conversations, making sure the pension plan is fully funded makes those conversations possible.
Following DiNapoli, Senators John Mannion and Rachel May, Assemblymembers Pamela Hunter, John Lesmondes and Al Stirpe, and Western New York Area Labor Federation (WNYALF) President Peter DeJesus Jr. took to the stage to address and congratulate delegates.
They each shared messages of solidarity and accountability, stating that it is important to make sure that they are working hard for the very same public employees who work hard every day for New Yorkers.
“It is always hard to follow the comptroller,” said Senator Mannion. “But I want you to know that we will continue to fight for you, the public workers that make up this great state!”
WNYALF President Peter DeJesus Jr., echoed Mannion.
“I cannot promise you any extra money in your paychecks like the comptroller can,” DeJesus Jr. said, “However, I want you to be proud of your accomplishments and know that your union brothers and sisters have your back!”