You may be eligible for a lump-sum disability benefit if you are an in-service member or you are on an official leave of absence, and you have been diagnosed with a terminal illness and have a life expectancy of no more than 12 months.

In addition, if you are a Tier III member, you must be eligible to receive primary Social Security disability benefits if you are under age 65, and you must waive the benefits of any statutory presumption relating to the cause of disability or eligibility for disability benefits.

If you are determined to be eligible for a lump-sum disability benefit, you would receive a benefit equaling the amount payable (as a death benefit) had you died on your last day of active service.

Please note that, if you meet the Total Service Credit requirement for ordinary disability retirement (10 years for members filing under Tiers I, II, IV, and VI, 5 years for members filing under Tier III), you must also apply for an ordinary disability retirement when you request a lump-sum disability benefit. Your case would be reviewed by TRS' Medical Board, and you would be scheduled for a medical examination. The Medical Board would then determine whether you are eligible for an ordinary disability retirement and/or the lump-sum disability benefit.

For more information, please see the Lump-Sum Disability Benefit brochure.

Below is a summary of the benefits of membership in TRS:

Service Retirement Allowances

TRS' Qualified Pension Plan (QPP) is a retirement plan administered under Section 401(a) of the Internal Revenue Code. Our members' employers contribute the amount required to meet TRS' pension benefit obligation. And, in order to help fund their retirement allowances, members must also contribute to their QPP account. The amount of these contributions depends on a member's tier and other membership factors. Members become eligible to receive a service retirement allowance upon meeting requirements for service credit and age.

TDA Participation

In addition to earning a retirement allowance through the Qualified Pension Plan, members may build their personal savings through participation in TRS' Tax-Deferred Annuity (TDA) Program.

The TDA Program, established under Section 403(b) of the Internal Revenue Code, is a supplemental retirement plan. Participation lowers current taxable income, and taxes are deferred on contributions and accumulated earnings.

Loans

Loans are available to members under both the Qualified Pension Plan and the Tax-Deferred Annuity Program.

Members may borrow as much as $50,000; the maximum amount depends on the amount of the member's TRS funds and the amount of any balances outstanding on TRS loans and other employer-sponsored loan programs (such as the New York City Deferred Compensation Plan).

Disability Coverage

Disability retirement coverage is available to in-service members and to members on an official leave of absence. To be eligible for an ordinary disability retirement, members must meet certain service requirements. These requirements are waived for members whose disability meets the criteria for an accident disability retirement.

Death Benefits

Members who have at least one year of service since last joining TRS are eligible for death benefit coverage under the Qualified Pension Plan. Separate death benefit coverage is provided to participants in the Tax-Deferred Annuity Program.

At retirement, members may elect a payment option for their retirement allowance that will provide a benefit for one or more beneficiaries. Post-retirement death benefits are also available for TDA Program accounts.