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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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Watch Upcoming Board Meetings Online [updated 12/2/21]

The next regular Board Meeting will be held on Thursday, December 16, 2021. The next Investment Meeting of the Teachers' Retirement Board will be held on Thursday, January 6, 2022. Normally, meetings are streamed live on TRS' website and are available for on-demand viewing within two business days.

Online Programs for December! [updated 12/2/21]

During this holiday season, we would like to thank all the members who have attended our online educational programs this year. December’s 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.

Monthly Account Update Available [posted 11/22/21]

Account information as of October 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.

November 2021 Unit Values Available [posted 11/12/21]

The November 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.

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.

Review Your 2021 Annual Benefits Statement [posted 10/25/21]

Annual Benefits Statements for 2021 are now available for members who are in active service or on leave. Members can view their statements in the secure area of our website, and a video shows how to access the statement online.

Updated Fund Profiles Booklet Available [posted 10/22/21]

We have posted the 2021 edition of our Fund Profiles booklet. It provides information such as strategy, risk, expenses, and performance for each of TRS' Passport Funds.

1.4% COLA Takes Effect with September's Retirement Payments [posted 9/30/21]

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.

Welcome, New Members! [posted 9/14/21]

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.

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.