At our December meeting, Norman Rosenfeld gave members a useful presentation on NYCERS and MaBSTOA pensions. For a consultation you must contact Frank DeSimone first.
NYCERS date of membership does not always coincide with your date of appointment with NYCT. There may be a difference of 6 days, 6 weeks or 6 months. You can buy back this time but the more years you wait the more it cost. Fill out a form and NYCERS will send you a bill to buy back your time.
NYCERS can take 6 months until you get your Options letter. Until that time you will receive a reduced pension. MaBSTOA pays in full from the first month of your retirement.
TWU Local 100 is attempting to get MTA Bus Company employees into the MaBSTOA retirement plan. When the private bus companies went into the MTA, their pension plans did not.
Materials were handed out with recent studies indicating that retirees that keep busy were more likely to have better health results.