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This is a summary of the annual report of the New York State United Teachers Member Benefits Trust, EIN 22-2480854, Plan No. 503 for the period Sept. 1, 2023, through Aug. 31, 2024. The annual report has been filed with the Employee Benefits Security Administration, as required under the Employee Retirement Income Security Act of 1974 (ERISA).

The Board of Trustees of the New York State United Teachers Member Benefits Trust has committed itself to pay certain vision and other claims incurred under the terms of the plan.

The plan has contracts with various insurance companies to pay certain claims incurred under the terms of the plan. The total premiums paid for the plan year ending Aug. 31, 2024, were $67,695,091.

Because they are so called “experience-rated” contracts, the premium costs are affected by, among other things, the number and size of claims. Of the total insurance premiums paid for the plan year ending Aug. 31, 2024, the premiums paid under such “experience-rated” contracts were $49,279,998 and the total of all benefit claims paid under these experience-rated contracts during the plan year was $20,309,616.

The value of plan assets (after subtracting liabilities of the plan) was $64,173,744 as of Aug. 31, 2024, compared to $52,589,894 as of Sept. 1, 2023. During the plan year, the plan experienced an increase in its net assets of $11,583,850. This increase includes unrealized appreciation or depreciation in the value of plan assets; that is, the difference between the value of the plan’s assets at the end of the year and the value of the assets at the beginning of the year or the cost of assets acquired during the year. During the plan year, the plan had total income of $22,722,676 — including participant contributions of $4,172,974, realized gains of $437,266 from the sale of assets, earnings from investments of $8,836,493, and other income of $9,275,943. Plan expenses were $11,138,826. These expenses included $7,439,468 in administrative expenses and $3,699,358 in benefits paid to participants and beneficiaries.

You have the right to receive a copy of the full annual report, or any part thereof, on request. The items listed below are included in that report:

• An accountant’s report;
• Financial information and information on payments to service providers;
• Assets held for investment;
• Insurance information, including sales commissions paid by insurance carriers; and
• Information regarding any common or collective trusts, pooled separate accounts, master trusts, or 103-12 investment entities in which the plan participates.

To obtain a copy of the full annual report, or any part thereof, write or call the office of Mr. J. Philippe Abraham, Plan Administrator, Trustees of the New York State United Teachers Member Benefits Trust, 800 Troy-Schenectady Road, Latham, N.Y. 12110-2455, 800-626-8101.

You also have the right to receive from the plan administrator, on request and at no charge, a statement of the assets and liabilities of the plan and accompanying notes, or a statement of income and expenses of the plan and accompanying notes, or both. If you request a copy of the full annual report from the plan administrator, these two statements and accompanying notes will be included as part of that report. These portions of the report are furnished without charge.

You also have the legally protected right to examine the annual report at the main office of the plan (Trustees of the New York State United Teachers Member Benefits Trust, 800 Troy-Schenectady Road, Latham, N.Y. 12110-2455) and at the U.S. Department of Labor in Washington, D.C., or to obtain a copy from the U.S. Department of Labor upon payment of copying costs. Requests to the Department should be addressed to: Public Disclosure Room, Room N-1513, Employee Benefits Security Administration, U.S. Department of Labor, 200 Constitution Avenue, N.W., Washington, D.C. 20210.

According to the Paperwork Reduction Act of 1995 (Pub. L. 104-13) (PRA), no persons are required to respond to a collection of information unless such collection displays a valid Office of Management and Budget (OMB) control number. The Department notes that a federal agency cannot conduct or sponsor a collection of information unless it is approved by OMB under the PRA, and displays a currently valid OMB control number, and the public is not required to respond to a collection of information unless it displays a currently valid OMB control number (see 44 U.S.C. 3507). Also, notwithstanding any other provisions of law, no person shall be subject to penalty for failing to comply with a collection of information if the collection of information does not display a currently valid OMB control number (see 44 U.S.C. 3512).

The public reporting burden for this collection of information is estimated to average less than one minute per notice (approximately 3 hours and 11 minutes per plan). Interested parties are encouraged to send comments regarding the burden estimate or any other aspect of this collection of information, including suggestions for reducing this burden, to the U.S. Department of Labor, Office of the Chief Information Officer, Attention: Departmental Clearance Officer, 200 Constitution Avenue, N.W., Room N-1301, Washington, D.C. 20210 or email DOL_PRA_PUBLIC@dol.gov and reference the OMB Control Number 1210-0040.

OMB Control Number 1210-0040 (expires 03/31/2026)

A vacancy exists on the NYSUT Board of Directors for Election District 7. The vacancy was created by the resignation of John Kuryla, effective May 5, 2025.

In accordance with the NYSUT Constitution, Article IX, §§4(a) and 4(b): “Directors representing Election Districts shall be elected on a roll call vote by a majority of ballots cast by the representatives from their respective constituencies…[and in]…the event of a vacancy in the position of Election District Director, the President shall call a special election to elect a successor who shall serve for the remainder of the unexpired term.”

Pursuant to NYSUT Constitution, Article IX, §4(b) and the approved NYSUT Campaign and Election Procedures, NYSUT members who were reported as elected delegates to the 2025 Representative Assembly representing the members of Election District #7 will be eligible to vote in this Special Election.

The delegates and alternates of Election District #7 are hereby notified that this vacancy will be filled by a Special Election Meeting to be held as follows:

DATE: June 12, 2025
TIME: 4:30 p.m.
PLACE: NYSUT Syracuse Regional Office
4983 Brittonfield Parkway
East Syracuse, NY 13057

Nominations to fill this vacancy will be accepted in accordance with the Campaign and Election.

Procedures approved by the NYSUT Board of Directors adopted for the 2023 Representative Assembly. In order to qualify as a candidate for this Special Election, a Nominating Petition must be fully completed and then signed by at least two (2) in-service members from Election District #7.

The completed and signed Nominating Petition must then be received by the NYSUT Elections Committee by the close of business (5:00 PM) on May 23, 2025. Any member in good standing from a NYSUT local within Election District #7 may be a candidate. Only in-service members in good standing from Election District #7 may sign a candidate’s Nominating Petition. Nominating Petitions are available by contacting the NYSUT Elections Committee at elections@nysut.org or by contacting the NYSUT Office of the President at (800) 342-9810.

At the Special Election Meeting, each candidate shall be given an opportunity to address the meeting for a period not to exceed three (3) minutes at a Candidates’ Forum scheduled for 4:30 p.m. on June 12, 2025, at the above location. The Special Election Meeting will remain in session until a successor director is elected. The number of votes to which a local is entitled will be evenly distributed among that local’s delegates present and voting.

The candidate elected will serve as successor Election District Director effective June 12, 2025, and continue to serve as the Successor Director through the conclusion of the 2026 Representative Assembly.

All elected delegates or their alternates reported for the 2025 NYSUT RA from Election District #7 are requested to be present for this election meeting.