One of the key initiatives in my campaign are Enhanced Sick Day Buybacks, which would allow retiring Stations employees to cash out all unused sick days at an extremely favorable rate. This initiative recognizes the dedication and commitment of employees who prioritize their health and work ethic, ensuring that unused sick days are rewarded as they enter retirement. It’s a way to turn hard-earned benefits into financial security for those who have spent years serving in our transit system.

Why Buybacks Matter

• Rewarding Hard Work and Dedication: Many of us work diligently throughout our careers, often using fewer sick days than we are entitled to. Under the current system, much of the value of unused sick days are lost upon retirement, providing no financial benefit to employees. A more favorable Sick Day Buyback program would change that by allowing retiring employees to cash out their unused sick days at more favorable rates, providing a financial boost as they transition into retirement. This recognizes the dedication of those who remain healthy and committed to their jobs throughout their careers.

• Encouraging Health and Attendance: By offering a more financially favorable buyback option, this initiative incentivizes employees to use their sick days only when absolutely necessary, promoting a culture of health and responsibility. Employees will no longer feel like they need to use their sick days simply to avoid losing their value. Instead, they can save those days and turn them into additional retirement income, knowing their hard work will be rewarded.

• Providing Financial Security for Retirees: Transitioning to retirement can be financially challenging for many employees. The enhanced Sick Day Buyback program allows employees to enter retirement with a better financial cushion, turning unused benefits into cash they can use for healthcare, travel or other expenses. According to a study by the National Institute on Retirement Security (NIRS), many retirees face financial instability due to insufficient savings. The Sick Day Buyback program can help bridge that gap for many retirees by providing them with additional resources upon retirement.

The Economic Impact

• Monetizing Earned Benefits: Sick days are a form of compensation, and employees deserve to receive the full value of their earned benefits. Cashing out unused sick days at better rates provides retiring employees with the financial value of days they earned but didn’t use. This initiative ensures that employees are compensated fairly for their years of service and that no benefits go to waste.

• Helping Employees Plan for Retirement: Many employees accumulate a substantial number of unused sick days over the course of their careers. For those planning for retirement, the Sick Day Buyback program would allow them to calculate how much additional income they can expect when they retire, providing greater financial security and the ability to plan for the future with more certainty.

• Incentivizing Attendance While Offering Flexibility: Offering a buyback option gives employees the incentive to use sick days only when absolutely necessary, which can improve overall attendance rates. However, employees still retain the flexibility to take time off for illness when needed, without the fear of losing their sick days entirely. This balance between incentivizing attendance and offering flexibility promotes both health and fairness.

Why it Matters Now

• Rewarding Years of Service: Many Stations employees dedicate decades of their lives to ensuring that New York’s transit system runs smoothly. This initiative is about recognizing that dedication by ensuring that employees who don’t use all their sick days are still rewarded for their years of service. It’s about turning lost benefits into financial rewards for those who have earned them.

• Financial Support in Retirement: For many retirees, especially those who worked in public service roles, retirement can bring financial uncertainty. The enhanced Sick Day Buyback program provides a better financial buffer for retiring employees, helping them manage the costs of healthcare, housing, and other expenses as they transition to retirement. With rising healthcare costs, particularly for retirees, this buyback could provide significant peace of mind.

• A More Equitable System: Currently, unused sick days are essentially wasted upon retirement, with little to no value returned to the employee. This initiative would ensure that every sick day earned has enhanced financial value, whether used during employment or cashed out upon retirement. It’s about creating a more equitable and fair system that rewards employees for their commitment to their jobs and their health.

A Commitment to Financial Fairness

Enhanced Sick Day Buybacks are about ensuring that every Stations employee is fairly compensated for the benefits they’ve earned but haven’t used. By allowing employees to cash out unused sick days upon retirement, we’re giving them the opportunity to turn their dedication into financial support for the next chapter of their lives.

This initiative reflects our broader commitment to fairness, respect, and financial security for all employees. Together, we can ensure that no hard-earned benefit is left behind and that every retiring employee has the opportunity to cash in on the sick days they’ve accumulated. Let’s make sure that our union stands for rewarding dedication and providing financial support for those who have worked tirelessly throughout their careers.