Before you calculate a QPP loan, please review the QPP Loans brochure for the eligibility requirements, as well as the terms and conditions governing QPP loans. A $30 service charge (for administrative costs) would be included in your new QPP loan amount.

Generally, the minimum QPP loan amount that you may borrow is $1,000. However, you may borrow a minimum of $250 if you have a previous outstanding QPP loan. Your new QPP loan amount, plus your existing QPP loan balance, must total at least $1,000.

Please check the applicable button to calculate either your maximum QPP loan amount or a specific dollar amount and click "Calculate." A table showing your payment options will appear.

Maximum QPP Loan Amount: This amount may change if you currently have a DCP loan balance, or if you apply for loans from both your QPP and TDA accounts.

Requested QPP Loan Amount: If you specify a dollar amount, the amount must not exceed your maximum QPP loan amount available. Please do not enter a dollar sign, comma, or decimal point (e.g., enter 2000 if you want to borrow two thousand dollars). A specified loan amount must be a multiple of $10, expressed as a whole-dollar amount.

Repayment Period: With the exception of a loan taken at annuitization, your QPP loan must be repaid within five years (60 months) of the date the loan was issued. If you are an in-service member, loans are normally repaid through payroll deductions of at least 2% of your contractual salary. If you have vested rights when you separate from service, you may maintain an outstanding QPP loan balance and avoid a taxable distribution (that would be reported to the Internal Revenue Service) by electing QPP Deferral status. Monthly direct payments to TRS would then be required.

Leave of Absence: If you are on a leave of absence, you automatically qualify for a 12-month grace period when loan payments need not be made. TRS would indicate the due date of your first loan payment on your QPP loan check stub. During the grace period, interest on your outstanding loan balance would continue to accrue. If your leave of absence exceeds the 12-month grace period, or if you opt not to take advantage of the grace period, you must make periodic payments directly to TRS.

Payment Period by Months: If you are an active TRS member who is not on a leave of absence, TRS would receive your loan payments through automatic payroll deductions. If you have more than one outstanding loan, the payroll deductions for each loan would be listed separately on your payroll check stubs.

Number of Payments: Generally, the number of payments for a loan payment period is two per month through automatic payroll deductions. Therefore, if your loan calculations indicate an option of 96 payments, you would make QPP loan payments through automatic payroll deductions twice a month, for a total of 48 months. However, TRS would receive payment for only one QPP loan through automatic payroll deductions if you meet the following conditions:

• You are an active TRS member who is not on a leave of absence;
• You are employed by the City University of New York; and
• Your paychecks are issued to you through the New York State payroll.

For any additional QPP loan(s), you must submit loan payments directly to TRS based on your payment schedule.

If you are a member with QPP Deferral status, your QPP loan payments are due by the 15th of each month.

Payment Amount Per Period: Your QPP loan repayment amounts include interest at the annual rate of 6%. In addition, insurance charges are included in loan payments for Tiers III, IV, and VI members, at the rate of 0.2% for loans originated before July 1, 2019 and 0.1% for loans initiated thereafter. Tiers III, IV, and VI members must also pay a $30 service charge on each QPP loan that they take (for administrative costs).