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FAQs: DOE/Charter School employees whose TRS membership date is after February 27, 2008: As a participant in the Age 55 Retirement Program, you are initially required to contribute 4.85% of your gross pensionable compensation to the QPP.
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FAQs: During your first three plan years of membership, TRS will use a projection of your annual wages to determine your contribution rate; these projections are based on your most recent contractual salary, as provided by your employer(s).
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FAQs: At the time of membership, you will be notified as to when your pension deductions should begin.
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FAQs: Deductions can only be made from one retirement system at a time, and it takes some time to complete the transition.
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FAQs: The QAS indicates the number of your variable units at the end of each quarter of the calendar year.
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FAQs: Yes, as long as the payments are to be deposited in the same account.
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FAQs: Members should contact their bank to determine if the money market account is considered a checking or a savings account.
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FAQs: Yes. If you are appointed as a teacher or pedagogue in a public school maintained by the New York City Department of Education, you would automatically become a TRS member as of your appointment date.
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FAQs: Yes. Full-time instructional staff of CUNY must join either TRS or the Optional Retirement Program offered by TIAA.
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FAQs: Before October 29, 2021, TRS membership was optional for paraprofessionals.
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