New Investment Election Change Rules

For many years, investment election changes have had to be made over a one-year period. Changes for Tier I/II QPP in-service member investments could be elected only once a year and the same was true for Tier I/II retirees and TDA annuitants. But under the new investment program, the rules for making investment election changes will be updated.

Beginning with the quarter starting July 1:

All Tier I/II QPP investment changes for both in-service and retired members will now be allowed quarterly. Changes can now be made over a three-, six-, nine- as well as the current 12-month period. At retirement, members can select an immediate conversion.
Election change forms can be submitted at any time of the year. The change will begin at the next quarterly period, assuming the change application is filed in a timely manner. If not timely filed, the change will occur at the start of the following quarter.
Investment election changes for the quarter must be filed by the following dates:

Quarter	In-Service and Deferred TDA, In-Service QPP
January 1	File by December 1
April 1	File by March 1
July 1	File by June 1
October 1	File by September 1

More information on these matters has been provided by the TRS. Read the material carefully before making changes.

These changes are designed to help you enjoy a more financially secure future. Please read all materials provided by the TRS on these matters. If you have any questions call the TRS or your UFT borough office:

Teachers’ Retirement System – 1-888-869-2877

Bronx UFT Borough Office – 1-718-379-6200

Brooklyn UFT Borough Office – 1-718-852-4900

Manhattan UFT Borough Office – 1-212-598-6800

Queens UFT Borough Office – 1-718-275-4400

Staten Island Borough Office – 1-718-605-1400

Edited by Melvyn Aaronson, Sandra March, Mona Romain, Tom Brown, Joan McCoy, Steve Gappelberg, Barbara Shiller