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FAQs: In order to provide you with retirement income as quickly as possible, TRS issues advance payments of your retirement allowance beginning with the payroll approximately one to two months following your effective retirement date (or initial payability date, if you retire...
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FAQs: Your payability date is generally the date on which you become eligible to receive a retirement allowance.
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FAQs: When a TRS retirement examiner begins to process your retirement application, two copies of the Notice of Prospective Retirement are generated.
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FAQs: By the last day of every month, the City of New York will transmit your payment to your financial institution for deposit in your designated account.
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FAQs: Yes. TDA deductions are taken out of summer pay.
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FAQs: Loans are generally paid within 1-2 weeks after the application is received.
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FAQ: Under Death Benefit #2, the benefit would equal one year's salary upon the completion of one year of service, two years' salary upon the completion of two years of service, and three years' salary upon the completion of three or more years of service.
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FAQs: You may be eligible for an Ordinary Disability Retirement if you are an in-service member or you are on an official leave of absence, and you become physically or mentally incapable of performing your work duties.
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FAQs: 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.
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FAQs: The Full-Year, Full-Contribution Rate allows you to contribute the highest allowable amount to your TDA account, by contributing at a steady rate during each pay period of a calendar year.
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