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FAQs: In general, lump-sum payments of your retirement allowance are only permitted for terminally ill members (please see the TRS' Lump-Sum Disability Benefit brochure); however, all eligible members may apply for a loan from their funds in conjunction with retirement.
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FAQs: The QAS indicates the number of your variable units at the end of each quarter of the calendar year.
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FAQs: Yes, as long as the payments are to be deposited in the same account.
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FAQs: Members should contact their bank to determine if the money market account is considered a checking or a savings account.
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FAQs: Yes. If you are appointed as a teacher or pedagogue in a public school maintained by the New York City Department of Education, you would automatically become a TRS member as of your appointment date.
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FAQs: Yes. Full-time instructional staff of CUNY must join either TRS or the Optional Retirement Program offered by TIAA.
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FAQs: Before October 29, 2021, TRS membership was optional for paraprofessionals.
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FAQs: As of October 29, 2021, paraprofessionals in the following titles are automatically members of TRS: Auxiliary Trainer, Bilingual Professional Assistant, Educational Assistant, Educational Associate, and Teacher Aide.
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FAQs: Yes. TRS membership is optional.
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FAQs: Members must provide the following to TRS:
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