What are the eligibility requirements for taking a pension loan?

You may be eligible for a loan from your pension fund account (Qualified Pension Plan or QPP) if:

  • you are either an in-service member or on a leave of absence,
  • you are not in default on an existing pension loan.
  • as a Tier I or II member, you have at least three years of TRS membership service; OR
  • as a Tier III, IV or VI member, you have at least one year of TRS credited service.

You may learn whether you are currently eligible to take a loan by logging in to the TRS website at www.trsnyc.org.

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