LUMP SUM PAYMENTS - United Federation of Teachers
LUMP SUM PAYMENTS
All active UFT members who worked for the Department of Education between 2009 and 2015 (plus those who retired after June 30, 2014) will receive a lump-sum payment of 12.5 percent of the amount they have accrued between 2009 and 2015. That payment will be the first of five lump-sum payments between this October and 2020 associated with the two 4 percent pay increases dating back to Nov. 1, 2009 and Nov. 1, 2010.
For active teachers, paraprofessionals and other pedagogues, the money will be part of their Oct. 15 check, the first regular paycheck after Oct. 1. For nurses, therapists and other members who are paid on the H-Bank, the money will be in their Oct. 23 check. Members who are on leave this October will receive their money on the date of the next scheduled payment that they are back on payroll. Eligible per-session and F-status will be paid on Nov. 2. Retirees will have a supplemental check issued on Oct. 16. Retirees with direct deposit will have their lump-sum payment deposited in the bank account where they receive pension checks. Retirees who do not have direct deposit will be mailed a paper check to the address on file with TRS.
You don't need to have been on the job in 2009 or 2010 to be eligible for this payout. Every UFT member who has been continually employed by the DOE at any time between Nov. 1, 2009, and Oct. 1, 2015 and is active on Oct. 1 will receive a lump-sum payment in October. For every check a member has received since late 2009 until today, lump-sum money has accrued representing the difference between what that member would have been paid if his or her paycheck had reflected those two 4 percent increases in 2009?10 and what the member was actually paid.
Think of it as a large piggybank. If you have been continually employed, you have been depositing money in this piggybank since Nov. 1, 2009 and will continue to deposit money until the two 4 percent increases are fully phased in, in 2018. This October, you'll make your first withdrawal.
FIRST PAYMENT
SECOND PAYMENT
FOURTH
PAYMENT
FIFTH
THIRD
PAYMENT
PAYMENT
FIRST PAYMENT: Oct. 1, 2015: 12.5% of the amount you've accrued between 2009 and 2015
SECOND PAYMENT: Oct. 1, 2017: 12.5% of the amount you've accrued between 2009 and 2017
THIRD PAYMENT: Oct. 1, 2018: 25% of the amount you've accrued between 2009 and 2018
FOURTH PAYMENT: Oct. 1, 2019: 25% of the amount you've accrued between 2009 and 2018
FIFTH PAYMENT: Oct. 1, 2020: 25% of the amount you've accrued between 2009 and 2018
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