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How many months do I have to repay a loan?
FAQs: Tier I and II members must repay QPP loans within four years.
What does the number of loan payments mean in terms of months?
FAQs: The number of payment periods for a loan is generally two per month.
May I roll over an outstanding or defaulted loan balance?
FAQs: The following loan amounts may be eligible for a rollover:
May I use a direct withdrawal to pay off a TDA loan?
FAQs: Yes. You may use the withdrawn money at your discretion.
Can I hold membership in two City retirement systems at the same time?
FAQs: No. The Administrative Code of the City of New York prohibits simultaneous membership in two city retirement systems.
When will my TDA deductions take effect?
FAQs: In general, your deductions would take effect with the first payroll that occurs at least 60 days after TRS receives your elections through the TDA feature in the secure section of our website, or paper form: the TDA Enrollment Form (code TD1) for new participants, and t...
Is my first retirement allowance payment retroactive?
FAQ: Yes. If you receive advance payments, your first payment will be retroactive to your effective retirement date (or initial payability date, if you retired under deferred payability).
How are performance increases considered in my Final Average Salary?
FAQs: The collective bargaining agreement between the Council of School Supervisors and Administrators (CSA) and the New York City Department of Education provides for performance increases for qualifying members.
What payment options may I elect for my retirement allowance?
FAQs: You may elect to receive the maximum retirement allowance for which you are eligible.
If I choose to receive the Maximum Payment Option...?
FAQs: All retirement allowance payments would cease upon your death.