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News

This section provides information about the latest TRS news and events. To receive regular updates, follow us on Facebook @myTRSNYC, Twitter @myTRSNYC, Instagram @TRSNYC, and subscribe to our YouTube channel @TRSNYC.

Calendars

See important deadlines and holiday closings, scheduled dates for pension payments, and a calendar of Teachers' Retirement Board meetings.

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Headlines

 

Please read about our operations during the pandemic period. (Last update: 9/13/2021)

1099 Forms Will Be Available Soon [posted 1/20/22]

Later this month, 1099 forms will be mailed to all members who received distributions from TRS in 2021. We have learned that the 1099 forms for withdrawals and other lump-sum distributions will be mailed first, followed by forms for pensions and other recurring payments. TRS cannot estimate when members will receive their 1099 forms in the mail.

By the end of January, all 1099 forms for 2021 will be available for viewing and download in the secure section of our website. Forms for lump-sum distributions will be posted first, followed by forms for recurring payments. We will make another announcement when all forms have been posted to the website.

Watch Upcoming Board Meetings Online [updated 1/20/22]

The next Investment Meeting of the Teachers' Retirement Board will be held on Thursday, February 3, 2022. The next regular Board Meeting will be held on Thursday, February 17, 2022. Normally, meetings are streamed live on TRS' website and are available for on-demand viewing within two business days.

January 2022 Unit Values Available [posted 1/18/22]

The January unit values for the variable-return Passport Funds are now available. Unit values are based on each portfolio's closing market value as of the end of the preceding month.

Online Winter Programs! [updated 12/30/21]

Welcome 2022! It's a new year and time to register for a online educational program. Our January and February schedule is now available! To learn more about your pension and TDA, review the program descriptions and register on the Educational Programs page today! All programs are virtual.

2021 Financial Report Now Available [posted 12/30/21]

We have posted the 2021 edition of our Annual Comprehensive Financial Report (ACFR). The ACFR is part of the City's overall financial reporting and presents TRS' financial position and the results of TRS operations. This report covers both our Qualified Pension Plan (QPP) and our Tax-Deferred Annuity (TDA) Program. On the Financial Reports page, you can view the most recent issue or choose an issue from our archives.

Monthly Account Update Available [posted 12/22/21]

Account information as of November 30, 2021 is now available in the secure section of our website. In-service members can log in to see their latest account balances, plus loan information and investment elections. Retirees with a TDA account can view their latest TDA account balances, plus investment elections, loans, and RMD information.

Fall 2021 Newsletters Now Available [posted 12/20/21]

The Fall 2021 issues of our member newsletters are now available online. The mailing of Benefits Report to retirees and In-Service News to non-retired members will begin shortly. On the Newsletters page, you can view the most recent issues or choose an issue from our archives.

2022 TDA Contribution Limits Set [posted 11/10/21]

The Internal Revenue Service has announced 2022 contribution limits for retirement plans such as TRS' TDA Program. The general contribution limit will increase from $19,500 in 2021 to $20,500 in 2022.
The limits on "catch-up" contributions in 2022 remain unchanged:
  • Members age 50 and older may make additional contributions up to $6,500.
  • Certain members with at least 15 years of City employment may be eligible to make additional contributions up to $3,000.
Based on these rules, each year TRS determines the maximum allowable TDA contribution amount for each member. We also calculate the contribution rate (percentage of pay) that would result in the maximum contribution. That rate is known as the "Full-Year, Full-Contribution Rate."
You can now see—or elect—your 2022 Full-Year, Full-Contribution Rate after logging in to the secure section of our website. Rates elected by December 15 should take effect with the first payroll of the new year.

New Law Gives Paraprofessionals Automatic Membership in TRS [posted 11/1/21]

Under a New York State law enacted on October 29, 2021, City paraprofessionals in the following titles are automatically members of TRS:  Auxiliary Trainer; Bilingual Professional Assistant; Educational Assistant; Educational Associate; and Teacher Aide. The law applies to paraprofessionals hired on or after October 29, 2021, as well as paraprofessionals who are already working in one of the titles. Those paraprofessionals do not need to take any action; TRS will contact them about their membership.

Previously, paraprofessionals had the option to become members of TRS. We are in the process of updating our website materials to reflect the new information.

Mailing to Gulino Class Members [posted 9/3/21]

TRS will send certain class members of Gulino v. Board of Education an invoice for pension contributions that must be paid in order to receive pension credit from TRS. The mailings will continue until all affected class members are contacted. 
 
TRS representatives cannot answer questions about this mailing or any other aspects of the litigation. Additional information regarding Gulino can be found at the Gulino website at www.gulinolitigation.com.

Reminder of Filing Deadline for World Trade Center Law [updated 8/13/19]

Qualifying members who worked in the World Trade Center Rescue, Recovery, or Cleanup Operations between September 11, 2001 and September 12, 2002 may file a Notice of Participation (code DI40) with TRS. Beneficiaries of qualifying members who died without having filed this form may file the beneficiary version of the Notice of Participation (code DI40b). TRS must receive the Notice of Participation and, if applicable, an Authorization for Release of Health-Related Information (code DI47) by September 11, 2022.

Please see the World Trade Center Presumptive Disability and Death Benefit Laws information sheet for a list of qualifying conditions or impairments of health and other important information.