TRS Election Update from Candidate Ben Morgenroth - Election is May 14

UPDATE - May 8 - THE DOE HAS CANCELLED THE TRS ELECTION BY DISQUALIFYING BEN OVER SOME MINOR IRREGULARITY AND DECLARED THE UNITY CANDIDATE THE WINNER

Tuesday May 6, 2025 - 

Congrats to Ben for getting the signatures he needed to run. Unity has controlled the 3 pension reps forever and we need another voice. They serve 3 year terms so there is an election every year. Ben ran last year and got one third of the vote. The election is in the schools on May 14 - retirees, ironically, can't run or vote. I know some people in ABC helped get signatures even though Ben is running with ARISE. It's too bad both campaigns didn't make this an issue to tie into the campaigns but I understand how busy people have been.

Here is Ben's missive:

Hi everyone, A couple of quick updates: First and foremost, congratulations! We collected well over the requisite 1,000 signature to get onto the ballot for the TRS election. This accomplishment is thanks to all of YOU and your hard work! Ours is one of two names that will appear on the ballot in May. I would like to ask everyone to please submit the Google Form below after May 14 to indicate whether the election protocols were properly followed in your school. I may not re-send this form link, so please save a copy of it. Please encourage your colleagues to fill it out as well: www.tinyurl.com/trselection25 Important Election Information: Principals are supposed to provide a copy of the notice of the election, including the names of both candidates, by Wednesday, May 7. Principals are required to hold an election in each school or worksite on Wednesday, May 14. If requested by at least 10% of the staff, the principal must call a meeting between May 2 and May 5 to hold a meeting to discuss the merits of each candidate. Once called to order, the contributors present must elect a chairperson and secretary for the discussion meeting. The election on May 14 shall be held at an in-person, called by the principal. A chairperson and secretary shall be elected at the start of the meeting. At the May 14 meeting: the chairperson shall appoint at least one teller for each of the two candidates, and at least 3 tellers in total. The tellers must be an acknowledged supporter of the particular candidate. Each member receives a ballot and signs a list of contributors (provided by the principal) to indicate they received a ballot. If an error is made, a new ballot shall be provided, and the original ballot shall be indicated as a VOID. No electioneering or discussion of candidates is permissible during the election meeting. For members who are off-site, an alternative voting location is to be provided. After each member has deposited their ballot in the box, the tellers publicly count the ballots and post and announce the results. One copy of the results is to be posted on the official site bulletin board. The ballots are returned to the box, the box is sealed and delivered to the principal, who keeps all ballots in a sealed box for at least 6 months. Note: At CUNY campuses, balloting is to remain open from 9:00 AM until 5:00 PM on Wednesday, May 14 and Thursday, May 16. Ballots are counted and tallied at the end of each day (publicly per the procedure above), but not posted until the end of the second day. Please encourage your colleagues to participate in the election on May 14. Thank you again, everyone for all the hard work! Looking forward to the election. Did you know? In 2009, the TDA rate of return was reduced to 7% for UFT titles, an effective cut of $2.3 million per teacher in retirement benefits. All non-UFT titles, including administrators, still receive the full 8.25% TDA. Tier 6 members receive less than half the benefits of Tier 4 members who make equal retirement contributions, and must work up to 15 years longer to receive a full pension. With the recent State re-amortization budget proposal, now, more than ever, it is important to protect our pension against further cuts, and reverse the most recent ones. Candidate statement: www.tinyurl.com/benfortrs2025statement   Committee for the election of  BENJAMIN MORGENROTH AS TEACHER-MEMBER OF THE RETIREMENT BOARD  Co-Chairs  Andrea Kung, Teacher  Urban Academy Laboratory High School 02M565, Manhattan  Aziz Jumash, Teacher  Stuyvesant High School 02M475, Manhattan  TO ALL MEMBERS OF THE TEACHERS RETIREMENT SYSTEM  Dear Colleagues: We are pleased to announce that  Benjamin Morgenroth  will be a candidate for election to the Teachers Retirement Board.  Ben Morgenroth has a strong financial background, expertise, a decade of service in the classroom, and is dedicated to sound investments and member education. Ben is the most qualified candidate for election to the Teachers Retirement board and is the only person running with the financial expertise necessary for the position.  Board trustees are fiduciaries responsible to protect the long-term value of the pension’s investment portfolio and provide benefit security for members. They are entrusted to oversee the investment of our funds and achieve the highest possible long-term rate of return consistent with appropriate levels of diversity and risk.  Ben teaches AP Calculus and Algebra II at Brooklyn Technical High School and has served as a passionate teacher in the New York City public schools for the past decade. He also serves as an adjunct lecturer in Mathematics at Hunter College, City University of New York. He is a life-long New Yorker and a graduate of New York City public schools. He comes from a family of educators and TRS members. Ben holds a BA in Applied Math-Economics from Brown University and a MA in Applied Mathematics from Hunter College. Prior to teaching, Ben served as a business technology consultant and hedge fund risk analyst, helping to manage $3 billion in client investments.  In addition to his investment knowledge and financial expertise, Ben has intimate knowledge of the pension, including the nuances of individual Tiers. Ben is experienced at sharing his extensive pension knowledge with individual members and large groups, including the webinar he hosted focused on understanding and improving pension benefits, options, and Tier 6 reform.  Ben is running as an independent-thinking, union-proud, classroom educator who will serve with the best interests of everyday educators, like you, in mind. He is not beholden to the investors from TRS or any DOE official. This Trustee position will be the third to change hands in as many years. We need to keep our billions of dollars of investments safe and only someone with a strong investment background can be trusted to keep our pension stable, solvent, and ensure that it continues to grow. Ben’s classroom and financial experience make him the best qualified candidate for teacher trustee of TRS.  Ben’s top priorities for our pension:  1. Ensure financial stability and fund solvency to secure financial futures for retirees. 2. Aggressively and judiciously pursue investments that maximize returns while minimizing risk. 3. Continue to hold webinars and workshops in schools to ensure members understand our pension including benefits, investment, and retirement options.  Reverse pension cuts through advocacy to:  ● Improve pension and disability benefits, and pension flexibility, for members in all tiers. ● Restore the 8.25% TDA rate still received by all TRS members except UFT titles, and reverse the 30% reduction (approximately, with compounding) in our TDA benefits instituted in 2009. ● Reduce pension contributions for all tiers and restore the end of pension contributions after 10 years of service.  ● Restore retirement age to 55 for Tier 6 members.  ● Reverse the over 50% reduction in benefits for Tier 6 (compared to Tier 4 with equal contributions) instituted in 2010-2012.  ● Improve Final Average Salary calculation for pension benefits that better reflect real earnings. ● Update COLA law for benefit increases that keep pace with inflation.  ● Offer swifter movement of funds between TDA investment options (reduce time lag from 30-120 days to 1 day)