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Teachers' Retirement System of the City of New York

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How does the Pension Fund differ from the Fixed Return Fund? FAQs: The funds in the Fixed Return Fund are a subset of the Pension Fund.
What is the U.S. Equity Index Fund? FAQs: The U.S. Equity Index Fund invests in the over 3,000 securities in the Dow Jones U.S. Total Stock Market Index.
What is the International Equity Index Fund? FAQs: The International Equity Index Fund invests in the over 6,000 securities in the MSCI All Country World ex USA Investable Market Index (ACWI ex USA IMI).
How are the monthly unit values of the variable-return Passport Funds determined? FAQs: For each of the variable-return Passport Funds, TRS takes the following steps to calculate the monthly unit value:
What is the unit value for the Fixed Return Fund? FAQs: The Fixed Return Fund is unlike the other Passport Funds because it offers a guaranteed rate of return set by New York State Legislature in accordance with applicable laws.
How do unit values affect my account balance? FAQs: The unit values reflect how much a unit in each Passport Fund is worth in a specific month; these values fluctuate from month to month.
What is Death Benefit #2? FAQ: Under Death Benefit #2, the benefit would equal one year's salary upon the completion of one year of service, two years' salary upon the completion of two years of service, and three years' salary upon the completion of three or more years of service.
Who receives the death benefit if a divorced member of TRS dies? FAQs: TRS generally makes death benefit payments in accordance with the member's most recent beneficiary designations.
Are taxes withheld from a death benefit? FAQs: The IRS requires that TRS withhold 20% of the taxable portion of any lump-sum death benefit paid to a surviving spouse, unless the spouse instructs TRS to directly roll over the amount into an IRA or a Section 401 Plan.
Can a beneficiary roll over a death benefit to another account? FAQs: Spouses of deceased members are permitted to roll over the taxable portion of a Qualified Pension Plan (QPP) and/or Tax-Deferred Annuity (TDA) Program death benefit to an eligible Individual Retirement Arrangement (IRA) or other successor program.