Fill out the survey about how the extra Welfare Fund money should be spent!

If you had $75,000,000 to support the healthcare needs of your family and the families of your fellow union members, how would you spend it? 

After a careful analysis of the UFT Welfare Fund’s finances based on a recent audit obtained by FOIL from the NYC comptroller's office that we are publishing for the first time here today, we UFT members found that our welfare fund has additional income that it is not spending, and reserves well beyond what is financially necessary. The Welfare Fund has consistently been growing its reserves with a large annual surplus (income above and beyond its expenses, for a welfare fund it is not called “profit”), averaging growth of $75 million each year over the last 5 years. 

We do not need extra reserves: the NYC Comptroller recommends that welfare funds of our size hold twice their annual income as a fallback, but the close to billion dollars held by the fund is already millions above that amount. 

This  $75 million that is being stockpiled is equivalent to $375 for each UFT member - we believe that this excess could be used to drastically improve the lives of UFT members.