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Teachers' Retirement System of the City of New York

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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.
Can I still handle my own TRS retirement transactions with a PoA on file? FAQs: Yes. You may still handle your own retirement affairs; you do not lose your authority to act even though you have given your agent a similar authority.
How do I allow for gifting on a PoA using the TRS Special Durable Power of Attorney form? FAQs: If you use the TRS form, and your agent is your spouse, domestic partner, parent or child, then your agent will automatically have “gifting authority,” including the authority to designate himself/herself as your beneficiary.