A retiree source has been on the payroll portal and told me the retroactive money will be deposited into accounts on Friday, February 27, 2015. Sources updated us by telling us the money is already in accounts as of today (Thursday).
It is not surprising that the city/Department of Education held onto the money for as long as they could. The fund to pay the retroactive payments for people who retired between November 1, 2009 and June 30, 2014 was supposed to be established "upon ratification" of the contract (June 3, 2014) but because of bungling by both the UFT and city, it was not settled until this month.
All I can say is congratulations to our retired friends! You had to wait almost nine months to get money that has been owed to you since early June for work done as far back as 2009. Each and every retiree earned every dime that is coming your way by working in the schools.
ICEUFT blog salutes all of our retirees and wishes you many decades of healthy and happy lives.