Teachers' Retirement System of the City of New York

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Results for "tda enrollment"

May I use a direct withdrawal to pay off a TDA loan? FAQ
3/19/2025 10:19:48 AM
Yes. You may use the withdrawn money at your discretion.

How can I change the way my TDA contributions are invested? FAQ
3/19/2025 10:20:01 AM

In-service TDA participants, members with TDA Deferral status, and TDA annuitants may change their TDA investment elections four times a year. Investment election changes take place on the following conversion dates: January 1, April 1, July 1, and October 1.

In-service TDA participants may change their investment elections for their future TDA contributions and/or past TDA accumulations by logging in to the secure section of our website at any time; their elections would take effect on the next conversion date that occurs at least 30 days after TRS receives their form or online request.

Members with TDA Deferral status may change their investment elections for their TDA accumulations by logging in to the secure section of our website at any time; their elections would take effect on the next conversion date that occurs at least 30 days after TRS receives their form or online request.

TDA annuitants may change their investment elections for their TDA accumulations by filing a paper TDA Annuitant's Investment Election Change Form (code RP9) at any time; their elections would take effect on the next conversion date that occurs at least 60 days after TRS receives their form.


How can I correct an error on my TDA Quarterly Statement? FAQ
3/19/2025 10:20:01 AM

You may send a copy of the statement, along with a letter indicating the requested correction, to TRS, Member Accounting Unit, 55 Water Street, New York, NY 10041.


May I use a direct withdrawal to pay off a TDA loan? FAQ
3/19/2025 10:20:01 AM

Yes. You may use the withdrawn money at your discretion.


What unit value will be used to calculate a TDA Program withdrawal that I take as a retiree? FAQ
3/19/2025 10:20:02 AM

The monthly unit values used to value (in dollars) any investments in the variable-return Passport Funds would be the unit values in effect for the month after TRS’ receipt of your withdrawal request.


What unit value will be used to calculate a TDA Program withdrawal that I take as a retiree? FAQ
3/19/2025 10:20:04 AM

The monthly unit values used to value (in dollars) any investments in the variable-return Passport Funds would be the unit values in effect for the month after TRS’ receipt of your withdrawal request.


What is the TDA Program? FAQ
3/19/2025 10:18:44 AM
T-D-A stands for the Tax-Deferred Annuity Program, which includes a traditional TDA and a Roth account option. This defined-contribution program, established under Section 403(b) of the Internal Revenue Code, provides TRS members with the opportunity to save additional funds for retirement. Participants in the traditional TDA option make contributions on a pre-tax basis, while participants in the Roth option make after-tax contributions. Generally, earnings grow tax-free in the accounts. Traditional TDA funds are taxable when received as income, while Roth funds are tax-free when received as a qualified withdrawal.

What are my TDA options if I retire from active service? FAQ
3/19/2025 10:19:28 AM

When you retire, you may no longer make TDA contributions. But your TDA account will automatically carry over into your retirement. You will have full access to the funds and can make a withdrawal or annuitize the account at any time.

You may have an open TDA loan when you retire. In this case, you’ll need to tell us on your retirement application how you want to make your loan payments after retirement – deductions from your monthly retirement allowance, or direct payments online at TRS’ website.


Do I have to withdraw or roll over my total TDA account balance when I reach age 75? FAQ
4/16/2026 4:17:16 PM

No. You can continue to maintain your TDA account past age 75. But you would need to begin receiving an RMD that is based on your entire TDA balance.


Why is my maximum available TDA loan amount the same as my maximum available QPP loan amount? FAQ
3/19/2025 10:18:55 AM
Similar rules restrict the maximum available loan amounts under the QPP and TDA loan programs. Please note that your maximum under one loan program would be reduced if you took a loan under the other loan program.