COBA is pleased to announce that the 2024 New York State Budget has passed and includes some changes that POSITIVELY effect our COBA Members enrolled in Tier 6. Throughout this year, COBA has been working closely with the Public Employees Conference, The Downstate Corrections Coalition and Labor throughout New York State. It's hard work and dedication has paid off!

1) Final Average Salary Calculation- will now be comparable to Tier 4, the average of the wages earned during the "three highest consecutive years" of service. Before this change, the Tier 6 FAS was the average wages earned during the five highest consecutive years of service. This change will result in a higher pension benefit upon retirement.

2) Lower Contribution Rate- Legislation enacted during the COVID-19 emergency removed overtime from the Tier 6 contribution rate calculation. For Tier 6 Members, this meant lower contribution rates for up to two years from April 1, 2022 through March 31, 2024. The 2024 budget has extended that this law till March 31, 2026.

3) NYS Paid COVID-19 Sick Leave has been extended and shall now expire on July 25, 2025. This extension effects all COBA Members regardless of their NYSLRS Tier status.

These are major victories for labor in New York State, but there is a lot of hard work ahead of us to fix both Tiers 5 and 6 give them level of benefits of Tier 4.