News

News

July 2015 Unit Values Available; Corrections to April, May [updated 7/23/15]

The July 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.

Due to an error by our custodian bank, there was a slight correction to the April and May unit values of the Diversified Equity Fund and the International Equity Fund. Details appear on the 2015 Unit Values page. Members who have investments in either fund may see an adjustment when they view their online account statements for the period ending May 31 and quarterly statements for the period ending June 30. We apologize for this bank error.

Personalized Account Statements Through June 30 Now Available Online [posted 7/21/15]

Monthly Account Statements as of June 30, 2015 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, loan information, RMD amounts, and "RMD Election Form" filing deadlines.

TRS Offices Close Early on Fridays This Summer [posted 6/24/15]

TRS offices will close at 1 p.m. on Fridays this summer, from July 10 through September 11. Please keep this schedule in mind when calling or visiting TRS. As an alternative, we encourage you to take advantage of our other convenient member service resources--the TRS website and our automated phone system at 1 (888) 8-NYC-TRS--which are available 24 hours a day, seven days a week.

Spring 2015 Newsletters Now Available [posted 6/18/15]

The Spring 2015 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 2010.

Goodman Settlement May Affect Military Service Credit [posted 5/27/15]

On March 17, 2014, a settlement between the City of New York and the United States Attorney's Office in the case of Goodman, et al. v. City of New York, et al. ("Goodman") became effective. The Goodman Settlement impacts the pension calculations of certain members and pensioners who served in the military after September 11, 2001.

Latest Quarterly Statements Are Online [posted 5/13/15]

Account statements for the period ending March 31, 2015 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.

UFT Retirees Receive Retroactive Payment [posted 3/2/15]

TRS is aware that the Department of Education has issued retroactive payments to members of the United Federation of Teachers (UFT) who retired between November 1, 2009 and June 30, 2014. The payment issued last week represents retroactive salary increases for 2009 and 2010, payable under the UFT contract agreement signed in June 2014.

Members who received the payment may wonder when their retirement allowance will be revised to reflect the retroactive salary increases. TRS will begin calculating the revisions upon receiving all required salary information from the employer. At this time, we cannot estimate when members will receive revised retirement allowances, but they should be aware that the revision process can take several months.