If you are currently paid on the City of New York payroll through direct deposit for work in a position that entitles you to TRS membership: You will be automatically enrolled to receive your monthly benefit payments (including advance payments) via EFT. You do not need to do anything; these payments will be automatically deposited in your account via EFT. However, if you want your monthly benefit payments (including advance payments) to be deposited via EFT in a different account, you must file an EFT Election at Retirement Form (code BK66) .

If you are currently paid on the City of New York payroll through direct deposit for work in a position that does not entitle you to TRS membership (e.g., substitute or per diem teacher): You must file an EFT Election at Retirement Form if you want your monthly benefit payments (including advance payments) to be deposited via EFT.

If you do not want your monthly benefit payments paid via EFT: You must file an Opt Out of EFT at Retirement Form (code BK67) . (You may subsequently initiate EFT at any time by filing an EFT Authorization Form (code BK58) with TRS.)

Retiring TRS members who are not currently paid on the City of New York payroll through direct deposit MUST file either an EFT Election at Retirement Form or an Opt Out of EFT at Retirement Form in order to receive their advance and/or regular retirement allowance payments. Failure to file one of these forms would result in a delay in the payment of benefits.

These two forms are available on request from our Member Services Center (not from our website). Members who are retiring should speak with a Member Services Representative for more information about EFT.