You may use this feature to determine a lump-sum repayment amount for a loan. The repayment amounts are based on the latest information in TRS' records. Therefore, these figures may be subject to change.
Please refer to the QPP Loans and/or TDA Loans brochures for additional information. In all cases, the specific provisions of the governing laws, rules, and regulations will prevail.
If you want to repay your loan balance in a lump sum in conjunction with your retirement, you may not request repayment information through this feature. Instead please file a QPP Loan Repayment Form (code LO11q) and/or a TDA Loan Repayment Form (code LO11t).
Repayment Amount: The information in this column indicates the amount required to repay the total amount of your outstanding QPP or TDA Program loan in a lump sum. This amount includes interest, applicable insurance charges, and projected loan payments that TRS would receive via payroll deductions through the corresponding "Date of Balance."
If TRS does not receive the lump-sum payment, the loan would remain outstanding. If you make any other payments that reduce your loan balance, your lump-sum repayment amount may need to be recalculated.
Date of Balance: The information in this column indicates the date through which interest and applicable insurance charges are included in the corresponding repayment amount. As of this date, projected loan payments that TRS would receive via payroll deductions are also included.
Due Date: The information in this column indicates the date(s) by which you may submit the corresponding repayment amount to TRS in a lump sum.
Repayment Instructions: If you want to repay multiple loan balances, you may submit one lump-sum payment to TRS for the total amount of your QPP and/or TDA loan balances. If you submit the selected repayment amount to TRS in a lump sum, and payroll deductions for your loan continue beyond the Date of Balance indicated, TRS would refund any overpayment(s) to you.
Please follow the instructions below to avoid delays in the processing of your payment:
- Make your check payable to the Teachers' Retirement System of the City of New York.
- Do not date your check after the due date indicated.
- Clearly indicate your TRS membership number and the loan number on your payment.
- Do not staple anything to your check.
- Print one copy of the Loan Repayment screen to submit to TRS and one copy to retain for your records.
Please mail your payment and one copy of the Lump-Sum Repayment Amount screen to TRS:
Teachers' Retirement System of the City of New York
55 Water Street
New York, NY 10041
Attention: Accounts Receivable Unit