We can confirm that the State Employee pension fund hit its target goal of a 6.9% return rate and therefore employees in the Tier 4 Pension plan will avoid the 2% surcharge from July 1, 2026 thru June 30, 2027. We do not have the precise return rate but it is above the 6.9% target so the 'risk-share' assessment will not be imposed.
Quick update on Contract Negotiations: one of our sister unions CEUI Local 511 (generally referred to as "the maintainers") has come to an agreement on their contract. Their agreement includes a 2.5% GWI + steps for 3 years (retroactive to July 1, 2025). Although A&R is in the process of selecting an arbitrator to resolve our contract impasse, A&R remains very engaged in negotiations with the State and we will continue to pursue settlement as we prepare for arbitration.