Lump Sum $ Coming for NYC Teachers

Am I the only one who had no idea or at least I totally forgot that we are getting a lump sum in our 10/15 paycheck? That's exciting when you forget (like I did) that we were!

After reading an article, I'm now reminded that we are getting several more lump sums after this! This one says 12.5%(but not sure what that REALLY means), I'm sure the rest are smaller, again confused and don't remember much.

Thanks

Message edited 9/26/2015 7:44:45 AM.

Re: Lump Sum $ Coming for NYC Teachers

It is Oct. 15th and will be in our paychecks, not a separate check which is annoying. The retro payments increase over time and is based on the raise we should've gotten. Here is an article about it. It's confusing!

http://www.uft.org/news/first-lump-sum-payment-coming-october

Message edited 9/26/2015 8:25:52 AM.

Re: Lump Sum $ Coming for NYC Teachers

We get:

12.5

12.5

25

25

25

with the last payment being in 2020.

Lump Sum $ Coming for NYC Teachers

I wish I could figure out an approximation of how much I will see. I'm just about to hit my 15th year longevity.

Thanks girls!

Re: Lump Sum $ Coming for NYC Teachers

Re: Lump Sum $ Coming for NYC Teachers

I am excited because I didn't realize I was getting money since I started in 2012. So happy! Just wish I knew how much I was getting.