Yes. However, you must pay for any deficits. Therefore, if you choose to stop your payroll deductions for a membership service deficit, you must pay the entire remaining balance in a lump sum. If you choose to stop your payroll deductions for optional service credit, you may pay the remaining balance or a portion of it with a lump-sum payment or other payment options.

The cost varies depending on your tier and the type of service credit you are purchasing. In certain cases, service credit may not require purchase.

If you are a Tier III or IV member, the cost to purchase service credit reflects the Qualified Pension Plan (QPP) contributions that you would have made had the service been performed as a TRS member. If you are covered under the basic retirement plan, your QPP contribution rate is generally 3%; if you are covered under the Age 55 Retirement Program, your contribution rate is generally 4.85%.

If you are a Tier VI member, the cost to purchase service credit is 6% of the salary you earned during the time the service was performed.

For most service credit purchases, 5% annual interest is applied to the cost; this represents the interest that would have accrued on your contributions had you been contributing at the time the service was performed. Interest is generally calculated from the date(s) your service was performed to the date your payment is due.

Note: For Tier I and II members, there may be no cost for optional service credit. However, this depends on the type of service (e.g., for Tier I members, there is a cost for outside teaching service, determined through actuarial calculations).

Yes. However, you must pay for any membership service deficits. Therefore, if you choose to stop your payroll deductions, you must pay the entire remaining balance in a lump sum. To stop your payroll deductions, submit a Payment Plan Change Request Form (code SB29) to TRS; we will then send you an updated Cost Letter.

If you are purchasing optional service credit, you may either request to stop the payroll deductions and the entire purchase or you may choose to pay the remaining balance with a different payment option, such as a lump-sum payment. To stop the entire purchase, submit a Request to Terminate Purchase of Optional Service Credit form (code SB32) to TRS. To continue the purchase with a different payment option, submit a Payment Plan Change Request Form to TRS; we will then send you an updated Cost Letter.

Optional service credit is any service credit you have the option to claim or purchase. In all cases, your service must be verified by TRS, and your request for the service credit must be made before your effective retirement date. Creditable service includes the following:
Prior Service: Creditable service you performed with a New York City and/or New York State public employer before joining TRS that was not transferred to TRS with your membership. (For Tier I members, service performed outside of New York City is not creditable as prior service. See outside teaching service below.)
Amann Service: Creditable service, such as substitute teaching or per diem service, that you performed with a New York City or New York State public employer during a leave of absence from your TRS-eligible position or after separating from service. (For Tier I members, service performed outside of New York City is not creditable as Amann service.)
Military Service: Creditable U.S. military duty you performed before joining TRS or during a leave of absence from your TRS-eligible position.
Outside Teaching Service (Tier I only): Creditable teaching and/or pedagogical supervisory service performed on a regular per-annum basis in a school or college not maintained by the City of New York.
Leaves of Absence Without Pay: Periods that may be creditable under limited circumstances.

For most members, qualifying service is synonymous with Total Service Credit: the sum of your TRS membership service, transferred service, credited optional service, and Chapter 126 credit (for eligible Tier I and II members).

For Tier I members, there’s a difference between Qualifying Service and Total Service Credit: Outside teaching service would count as qualifying service when determining eligibility for vesting and eligibility for a 30-Year “Demand” Retirement. Outside teaching service would not count toward eligibility for a Plan A or B service retirement benefit, but it would count when determining the amount of a Plan A or B service retirement allowance.

Your Cost Letter and accompanying election form will indicate the payment options available to you. In general, if you are currently in active service receiving regular salary payments, you can make your payment or purchase through payroll deductions. Alternatively, you can make an online payment in the secure section of our website at www.trsnyc.org.

For optional service credit purchases, you may be offered additional payment options, such as a transfer of funds from an external NYS- or NYC-sponsored 403(b) or 457 plan, or from your TRS Tax-Deferred Annuity Program (TDA) account.

Yes. If you are a Tier III, IV, or VI member who has optional service credit available to purchase at the time you separate from service, you may become eligible for vesting by purchasing credit for this service.

New unit values are usually announced by the third week of each month. A news bulletin on our website announces when the new unit values are available, and the current unit values are always available from the home page of our site.

Current unit values are also available on our phone system. After calling 1 (888) 8-NYC-TRS and providing some personal information to verify your identity, press option 1.

Members who are interested in past unit values can access this information in the Investments section of our website.

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.