Tier III, IV and VI in-service members can file for retirement online. To file online, log in to the secure section of our website, go to E-Forms, and click on the Service Retirement link.

If you are a Tier I or Tier II in-service member, we suggest that you return your retirement application to TRS in person; that way, a TRS representative can check the application and ensure that it is completed correctly. You may also return your application to TRS by mail if you believe you have accurately completed it. However, please note that mistakes on applications can cause processing delays.

Once you register for access to the secure TRS website using the claim code provided in your notification letter, you will create a username and password and log in to the death benefit claim feature. The feature guides you through all required steps and includes an upload feature to submit required documentation and forms. After all the required online steps are completed, you will print a summary receipt for your records; you must also print the “Attestation and Notarization for Online Death Benefit Claim,” have it notarized, and return it to TRS.

T-D-A stands for the Tax-Deferred Annuity Program, which includes a traditional TDA and a Roth account option. This defined-contribution program, established under Section 403(b) of the Internal Revenue Code, provides TRS members with the opportunity to save additional funds for retirement. Participants in the traditional TDA option make contributions on a pre-tax basis, while participants in the Roth option make after-tax contributions. Generally, earnings grow tax-free in the accounts. Traditional TDA funds are taxable when received as income, while Roth funds are tax-free when received as a qualified withdrawal.

The figures used by your union representative were estimates. Several factors included in the actual retirement allowance calculation may not have been known to your union representative when he or she made the estimate. These factors may have included changes in unit value, your recent investment elections, the payment option you chose, your Final Average Salary, your total service credit, and whether you took a loan or made an excess withdrawal at retirement.

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. If you are a Tier I and II member, you may also withdraw in a lump sum any amount in your Annuity Savings Fund (ASF) that is in excess of your minimum accumulation. (Please note that an outstanding loan or an excess withdrawal at retirement may result in a reduction of your retirement allowance payments.)

When you retire, you may no longer make TDA contributions. But your TDA account will automatically carry over into your retirement. You will have full access to the funds and can make a withdrawal or annuitize the account at any time.

You may have an open TDA loan when you retire. In this case, you’ll need to tell us on your retirement application how you want to make your loan payments after retirement – deductions from your monthly retirement allowance, or direct payments online at TRS’ website.

The figures used by your union representative were estimates. Several factors included in the actual retirement allowance calculation may not have been known to your union representative when he or she made the estimate. These factors may have included changes in unit value, your recent investment elections, the payment option you chose, your Final Average Salary, your total service credit, and whether you took a loan or made an excess withdrawal at retirement.

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.

Beneficiaries receiving a one-time lump-sum payment and/or continuing monthly benefits can initiate EFT in the online Death Benefit Claim feature

For more information, please see the Electronic Fund Transfer brochure.

In general, TRS will issue a duplicate lump-sum death benefit check within 15 business days after receiving the completed form.