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The Danger in a Constitutional Convention
Memo on Retirees Decision 7-28-14
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BUDGET UPDATE – IRMAA LEGISLATION
PEF helped retirees protect an important benefit during
the recent state budget negotiations.
Governor Cuomo has attempted to strip benefits from both active and retired
employees since he’s been in office.
His most recent effort would have eliminated the additional monies that
retirees of certain higher income levels have to pay for Medicare Part B.
The governor’s proposed Income Reimbursement Medicare Adjustment Act was not
put into the budget by lawmakers and we applaud that wise decision.
As you may know, Medicare Part B is the primary insurance carrier for NYS
retirees and our other insurance became secondary.
Under this law, the cost of Medicare Part B must be returned to retiree
enrollees through the amount refunded in their pension allotment –
The governor wanted to stop the refunds for certain retirees – single filers
with $85,000 incomes, joint filers with $170,000 income level.
That is not to say the governor won’t try this again – even though it would
have saved only $7 million, it would have given him another talking point
about belt-tightening on public employees and retirees.
None of us created the state’s fiscal crisis – we shouldn’t have to shoulder
fixing it through our benefits in our later years.
No retiree is going to lose their Medicare reimbursement – but we will have
to pay attention to this issue in coming budgets.
This is just another example: When we work together, we can win.
PEF RETIREEES ADDRESSES HEDGEFUND MANAGEMENT ISSUES WITH COMPTROLLER
To read the letter Jim Carr sent to Thomas DiNapoli regarding this please
Who We Are
How to send a Letter to the Editor (of your local newspaper)
Important Prescription Drug Information
Value of Social
Health Insurance Lawsuit Update
How to Join
NYS Retirement Benefits
or call the Retirees at 800-342-4306 Ext. 288.
here for the
PEF Member Network.
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