The October 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.

The next regular Board Meeting will be held on Monday, October 25, 2021. The next Investment Meeting of the Teachers' Retirement Board will be held on Thursday, November 4, 2021. Normally, meetings are streamed live on TRS' website and are available for on-demand viewing within two business days.

This year's annual cost-of-living adjustment (COLA) for eligible retirees will be 1.4%, effective with the September 2019 retirement allowance payments. This adjustment is calculated on the lesser of the retiree's maximum fixed retirement allowance or $18,000.

The COLA is provided to service retirees who are at least age 62 and have been retired for at least 5 years, service retirees who are at least age 55 and have been retired for at least 10 years, and certain disability retirees and surviving spouses.

Fall has arrived, and TRS is offering a new season of online educational programs! Are you a new member to TRS? Do you want to learn about TRS’ TDA Program? Are you considering retirement in the next year?  Whatever your situation, we have something for you! Review the program descriptions and register on the Educational Programs page today. All programs are virtual.

Account information as of August 31, 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.

If you are new to TRS or just want to learn the basics of TRS membership, take a few minutes to watch our welcome video. View on our site or on YouTube and share it with a friend. Don’t forget to subscribe to TRS’ YouTube channel at @trsnyc.

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.

Following up on a story in our Spring 2021 newsletters, Chapter 357 of the Laws of 2021 was enacted on August 3, closing TRS’ TDA Beneficiary (TDAB) program to new participants. Beneficiaries of members who die after June 30, 2021 cannot establish a beneficiary account in TRS’ TDA Program. Existing TDAB accounts are not affected by this legislation.

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.