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Retired Teachers Chapter News

Recalculations for those retirees who retired after June 30, 2014

New York Teacher

As the UFT informed you, you will not have to wait until 2020 to get your full pension. Retirees who retired after June 30, 2014, will have their pension recalculated once based on the contractual lump sums scheduled to be distributed through 2020. 

You should receive two letters, the first informing you your retirement allowance will be revised and when you can expect to receive the revised benefit, and the second will be a new benefits letter detailing the revision that will be sent shortly after your benefit is recalculated. If you have any questions after you receive your benefit letter, please call a retiree pension consultant at 1-212-598-9536.

Approximately 2,100 members received their new benefit on the November payroll, and 900 members will receive their benefit on the December payroll. The TRS will be re-calculating the remaining 3,000 cases for the payroll during the first six months of 2017.

Related Topics: Pension