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News

This section provides information about the latest TRS news and events.

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 11/16/17]

The next Investment Meeting of the Teachers' Retirement Board will be held on Thursday, December 7, 2017. The next regular Board Meeting will be held on Thursday, December 21, 2017. Meetings are streamed live on TRS' website and are normally available for on-demand viewing within two business days.

Fall 2017 Newsletters Now Available [posted 11/16/17]

The Fall 2017 issues of our member newsletters are now available online. The mailing of Benefits Report to retirees and In-Service News to members in active service (or on leave) is underway. On the Newsletters page, you can view the most recent issues or choose an issue from our archives dating back to 2012.

Review Your 2017 Annual Benefits Statement [posted 11/15/17]

TRS has begun mailing the 2017 Annual Benefits Statement (ABS) to members who are in active service or on a leave of absence. By the end of November, more than 120,000 members will receive statements.

For most members, the 2017 ABS is also now available for online viewing in the secure section of our website. Members receive an email once their statement is posted.

The 2017 ABS is the last one that TRS will print and mail to members. Starting in 2018, the ABS will only be available online. (Learn more here.) Online statements are in PDF format for convenient printing; TRS can no longer provide reprints.

November 2017 Unit Values Available [posted 11/14/17]

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.

Latest Quarterly Statements Are Online [posted 11/13/17]

Account statements for the period ending September 30, 2017 are now available for online viewing in the secure section of our website.

The Quarterly Account Statement (QAS), for in-service members and certain members on leave, summarizes account information for members' Qualified Pension Plan and, if applicable, Tax-Deferred Annuity Program accounts.

The TDA Quarterly Statement, for members with TDA Deferral status, summarizes TDA account information for members who are maintaining a TDA account after retirement (or, in some cases, resignation).

Printed statements have been mailed to members' home addresses. If you currently receive your quarterly statements in the mail, consider opting out of the mailing and viewing the statement online instead. To change your mailing preference, select My Profile after logging in to the secure section of our website. To ensure that you receive emails from TRS, please add noreply@trs.nyc.ny.us to your address book.

Updated Fund Profiles Booklet Available [posted 10/27/17]

We have posted the 2017 edition of our Fund Profiles booklet. It provides information such as strategy, risk, expenses, and performance for each of TRS' Passport Funds. This edition also describes the Balanced Fund that will replace the Bond Fund in January.

Account Statements for September 30 Now Available [posted 10/23/17]

Monthly Account Statements as of September 30, 2017 are now available through the secure section of our website.

In-service members can access their account balances, loan information, and investment elections. Members with TDA Deferral status can access their TDA account balances, investment elections, and loan and RMD information.

2018 TDA Contribution Limits Set [posted 10/23/17]

The Internal Revenue Service has announced 2018 contribution limits for retirement plans, including Section 403(b) plans such as TRS' TDA Program. The general contribution limit will increase from $18,000 in 2017 to $18,500 in 2018. The limit on additional "catch-up" contributions for members age 50 and older remains unchanged at $6,000.

The increase in contribution limits will result in an increase in members' Full-Year, Full-Contribution Rates for 2018. Members will be able to see their personalized Full-Year, Full-Contribution Rate for 2018 on their Quarterly Account Statement for the period ending September 30, 2017. Contributing at the Full-Year, Full-Contribution Rate allows members to contribute the highest allowable amount to TDA from year to year by contributing at a steady rate during each pay period of a calendar year.

Disregard Incorrect Deduction Information on Employer Pay Portal  [posted 10/10/17]

Some members contacted TRS today after seeing details of an upcoming paycheck on the Department of Education's payroll portal. On the portal, deduction amounts appeared to have been doubled.

TRS has been informed that the data displayed was incorrect, and that the DOE payroll portal will be unavailable while it is corrected. We ask that you review your actual paystub, or corrected online pay data, before making an inquiry with TRS.

TDA Rate Changes by 9/16 Effective for October UFT Payment [Updated 9/20/17]

In October, many TRS members will receive a lump-sum retroactive payment under the United Federation of Teachers’ collective bargaining agreement. Often, members receiving such a payment choose to increase their TDA contribution rate in advance, because the additional pay provides a rare opportunity to make a large one-time deposit into their TDA Program account.

The retroactive payment is scheduled for the October 16 payroll. So, if you want to increase your TDA contribution rate in advance, TRS must receive your election by this Saturday, September 16. (This deadline was extended to Thursday, September 21 at 9:00 AM.)

To change your TDA contribution rate, log in to the secure section of our website. Rate changes always take effect on the next available payroll, and the online "Change Rate" feature displays which payroll that will be.

Remember, your new TDA contribution rate will remain in effect until you change it, so you'll probably want to make another online rate change in time for the following payroll.

The general TDA contribution limit for 2017 is $18,000, but exceptions apply. For more information, please review our TDA Program Summary.

For 2017 UFT Retirees, October Payment Includes TDA Deduction [posted 9/13/17]

United Federation of Teachers members who retired on or after July 1, 2014 are scheduled to receive a retroactive payment in October as part of their union’s collective bargaining agreement.

For UFT members who retired in 2017, TDA contributions will be taken from that payment. (Normally, retirees cannot contribute to their TDA accounts; however, contributions taken from payroll are permitted in the year of retirement.)

For these retirees, TDA contributions will be taken at the same contribution rate that was in effect when they retired. Members who want this contribution returned to them may request a refund from TRS.

Updated Publication for Retirees Is Available [posted 9/1/17]

We have posted an update of our TRS Retiree's Companion. This publication is a handy reference guide for our retired members, covering benefit payments, financial and legal issues, and more.

1.2% COLA Takes Effect with September's Retirement Payments [posted 8/30/17]

This year's annual cost-of-living adjustment (COLA) for eligible retirees will be 1.2%, effective with the September 2017 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.

Updated Publication for CUNY Employees Is Available [posted 8/18/17]

We have posted the 2017-2018 edition of the TRS Membership for CUNY Employees brochure. It contains handy information about TRS benefits and resources for new CUNY employees. Since many CUNY employees can choose between TRS or TIAA for their retirement plan provider, the brochure also includes a side-by-side comparison of both retirement programs.

New Filing Deadline for World Trade Center Law [posted 10/6/16]

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 now receive the Notice of Participation and, if applicable, an Authorization for Release of Health-Related Information (code DI47) by September 11, 2018.

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.