Teachers' Retirement System of the City of New York

Welcome to summer! The season has officially kicked off. With the academic year winding down and changes in schedule approaching, why not consider how you can prepare for your future?
TRS offers several resources for members to make their next chapter their best one. Visit our website for a variety of publications to fit your need. Want to invest more in your future? Learn about TRS’ TDA Program. Need to contact us? You can call, video chat, or visit us in-person this summer. We are here to help you navigate retirement, every step of the way!

Are you staying connected with your community during retirement? Continuing to create and maintain personal connections during retirement attributes to better mental and emotional health. Connect with this AARP category about “Staying Connected” in a world that has seen the effects of social separation over the past several years. Read articles about connecting with younger generations, reconnecting with loved ones, and making new friends: https://on.nyc.gov/3x860k3

Retiring this year? Don’t forget to register and log in to your TRS account. Your online account allows you to assign beneficiaries, make personal data adjustments, and keep tabs on your account balances. Head over to the secure section of the TRS website by visiting https://on.nyc.gov/2NImYtZ > clicking “LOGIN/REGISTER” in the upper right corner.

This quote by JFK reminds us that guidance and coachability work in tandem; one cannot function well without the other. Here’s your reminder to be a leader inside and outside of the classroom, but to always remain coachable and open to learning from your colleagues and students!

Step inside the TRS Curious Classroom! Post some of your general TRS-related questions on this post! For any case-specific questions, don't forget to call/make an appointment for a video chat or visit us at 55 Water Street, New York, NY!

: Keep your beneficiary’s information updated and complete. Having your beneficiary’s SSN on file with TRS prevents unnecessary delays when death benefits become payable. While you aren’t required to provide SSNs at the time of designation, TRS will periodically prompt you to update this information.

TRS’ In-Service News and Benefits Reports are now available for spring 2024. Stay updated with investment stats, legislative updates, and fun articles about summer activities! Read the latest reports here:

Newsletters TRS publishes two member newsletters twice each year. In-service members receive In-Service News, and retirees receive Benefits Report.

Welcome to June! This is the final lap for educators, and the closing of a major chapter for many who are retiring at the conclusion of this academic year. 👩🏽‍🏫 What an achievement! ✨ Celebrate the countdown to retirement and take time to reflect on what will be in store for the other side of your career. Remember that TRS hosts several Educational Programs throughout the summer for retired members. Visit www.trsnyc.org > Resources > Educational Programs to register today!

Don’t underestimate the small ways you can conserve energy and save money this summer. As we prepare for the rising temperatures, take note of ways to save smartly ahead of the warmest season with tips from the U.S Department of Energy. Learn more about energy efficiency here: https://www.energy.gov/energysaver/spring-and-summer-energy-saving-tips

Knowledge is the gift that keeps on giving to every TRS member. Continue to research your TDA investment options to see how you can make your money work for you. Learn more about TDA Passport Funds here: https://on.nyc.gov/31MtPOr

Seniors: don’t forget to check out events happening in New York City Department of Parks & Recreation to help keep you active now and through the summer! Festivals, exercise classes, concerts, and more are all a part of the activities you can do this summer. Get involved here: https://on.nyc.gov/3ubaUWy

This long weekend, consider a few helpful tips from TRS:
You can always log in 🖥️to the secure section of the TRS website to learn more details about your account and make updates.
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You can also reach out to us via email 📧at [email protected] general questions. We cannot provide case-specific information via email.
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If you decide to schedule a virtual appointment📅, here are some tips that can be helpful:

General General FAQs for anyone visiting TRS' website.

Summer is fast approaching. Keep in mind that there are some Member Education programs that are available through the remainder of May and June. The popular “Getting Ready for Retirement” program is a highlight for these months, readying in-service members for their next chapter! See the complete list of available programs and their descriptions here: https://www.trsnyc.org/memberportal/Resources/educational

Account information as of April 30, 2024 is now available in the secure section of our website. In-service members can log in to see their latest account balances, plus loan information and investment elections. Retirees with a TDA account can view their latest TDA account balances, plus investment elections, loans, and RMD information.

Today is the International Day of Families! Today highlights awareness of issues that affect families worldwide, including education, healthcare, and economic equality. Educators, both in-service and retired, continue to support this initiative today and every day by supporting New York City students. Whether you’re on the clock or volunteering to support education, thank you for supporting NYC families!

We thank TRS members for maintaining courtesy when dealing with representatives via telephone, video chat, or via email. Here are some helpful tips to consider when connecting with representatives for your TRS specific needs!

Are you a CUNY Employee? You have a special brochure designed just for you: TRS Membership for CUNY Employees! The publication includes an eligibility checklist, a comparison chart of TRS and TIAA options, and more helpful resources. Connect with this brochure here:

www.trsnyc.org

Make time this weekend to consider TRS’ TDA Program! Put simply, this program is a great way to save money for your retirement. Our brochure, “Your Tax-Deferred Annuity Program,” highlights the benefits of contributing to your future, including a range of investment options! 📈 Learn more here: https://shorturl.at/jvwA1

Did You Know?
The TRS TDA Program, though supplemental, was designed as a retirement plan. This means there are some regulations placed on withdrawals:

• Members who have reached age 59½, or have separated from service, have unrestricted access to their TDA funds.

• Members who have not reached age 59½ may withdraw any pre-1989 funds (i.e., TDA contributions and earnings accumulated as of December 31, 1988).

• Other members may withdraw TDA funds only under hardship conditions.

Learn about these guidelines and more by reading “Your Tax-Deferred Annuity Program” brochure: https://shorturl.at/jvwA1
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💡 Remember that the TDA Program allows you to provide for loved ones in the event of your death. Keep your beneficiary information updated, keep loved ones informed of your personal plans, and stay updated with your personal contributions on the secure section of the TRS website.

This final lap of the academic year might come with twists, turns and maybe a few “windy” situations. Continue to power through this week and make plans to stay insightful and focused on your personal goals.

Here’s a quick tip 💡: If you’re a participant in TRS’ TDA Program and are subject to RMD requirements, sign into the secure section of the TRS website to see your RMD notification letter.
Head to Documents > Correspondence. You will also receive a hard copy of the letter in the mail over the next few days.

New Educational Programs for May/June have been posted on the TRS website and our page. Most of our programs are virtual; however, we’ll be holding our first in-person program for the year on June 25, 2024 in the Member Education Center on the second floor at 55 Water Street. Register for an Educational Program today!: https://on.nyc.gov/32XFaH3

You’ve got mail! If you’re a member enrolled in the TDA program, you might have received an email from TRS regarding the RMD (Required Minimum Distribution). This helpful email explains where to find info on how the RMD affects you, how to file, and more!
Check your inbox for the RMD details today.

Retirement might be approaching and you might be looking forward to starting a new journey, separate from your life as an educator. How can you make this most of this chapter? Here are three tips for retirement to keep in mind.

✉️Look out for your Benefits Letter from TRS! We send each retiree your monthly and annual retirement allowance amounts in this letter 📃. Typically, you receive this letter about one week after receiving your first retirement allowance payment. It provides the specific information used to calculate your retirement allowance.

Those planning to retire soon should save TRS Retiree’s Companion as their handy guide to the foundation of your next chapter.

Learn about:
• How to read your statements and stubs
• The details of TDA Program options, if you’re enrolled
• How taxes might affect your distributions
and more! Connect to this important publication here: https://on.nyc.gov/2KxZZlT

www.trsnyc.org

Hear firsthand from a retiree about the lessons learned and advice he shares with those in the middle of retirement planning. Take a look at the article “6 Things I Wish Someone Had Told Me Before I Retired”: https://on.nyc.gov/3QasYNx

6 Things I Wish Someone Had Told Me Before I Retired A recent retiree shares lessons learned late about saving money and spending time

Can CUNY faculty/professors join TRS?

Full-time instructional staff at CUNY must join either TRS or the Optional Retirement Program offered by TIAA. If you do not join the latter, you will be auto-enrolled into TRS as a member within 30 days of appointment to your role at CUNY. In this case, your TRS membership would become effective on your appointment date.

If you’re registered on the TRS website with a secure account, “you’ve got mail!” 📬

Here are a couple of tips for viewing your TRS Mail 📬:
-- After logging in, tap the hamburger “Menu” icon (three bars).
-- Scroll down to “Documents” and view the “Correspondence” section.

Any TRS Mail 📬 you’ve received is located here!