If you are an appointed teacher, paraprofessional or other pedagogue in a city public school, the Teachers Retirement System (TRS) will send you a welcome letter explaining the online enrollment procedure. 

Most others, including nurses, therapists, and substitute teachers as well as other part-timers, may join the Board of Education Retirement System, or BERS. Get more information at www.nycbers.org; applications are available at your UFT borough office or at BERS, 65 Court St., Brooklyn, NY 11201, or you can call 929-305-3800.

That depends on when you joined the retirement system. Your contribution rate is indicated on your Quarterly Account Statement from TRS or you can call a pension consultant at your UFT borough office. In any case, you will pay a percentage of your salary and the employer will contribute the rest of the money needed to pay for your pension benefit.

New members receive a “Designation of QPP (Qualified Pension Plan) Beneficiary Form” with their TDA enrollment application and should file both forms together. Participants in the Tax Deferred Annuity Program should designate a beneficiary for their TDA funds by filing a “Designation of TDA Beneficiary Form.”

In-service members may change their beneficiary on the TRS website (www.trsnyc.org) at any time.There is one exception: If you have a trust on file or wish to designate a trust as beneficiary, you can’t make beneficiary changes online. You must instead submit a Designation of QPP Beneficiary Form, code EN6, and/or a Designation of TDA Beneficiary Form, code EN8. 

Members of the Board of Education Retirement System (BERS) can call 929-305-3800 or visit BERS for information on how to designate or update their beneficiaries.

See "Designating Your Beneficiaries" for more detailed information. 

There is no limit on the number of years of prior service credit you can purchase. However, you can't receive more than one year of credit for any given school year, and there may be minimum service requirements in a given year. You must complete at least two years of credited service with the retirement system before you can receive credit for prior service.

The cost of purchasing service is based on your tier in the pension system. You may be eligible to pay in a lump sum, through payroll deductions, or through a TDA transfer. TRS will give you a Cost Letter, which explains the options, the amount of credit available for purchase and the cost.

No. Your contributions automatically continue into the next year. However, you may change your contribution rate on the Teachers' Retirement System website at www.trsnyc.org or by filing a hardcopy TDA Contribution Rate Change Form. BERS members may call 929-305-3800.

The TRS Passport Funds provide six investment offerings:

• The Fixed Return Fund offers a guaranteed rate of return set by the New York State Legislature. The current 7 percent annual rate is guaranteed in accordance with applicable laws.
• The Diversified Equity Fund invests primarily in U.S. equities. The fund may also invest in international equities and other investments that may dampen the volatility of an investment 100 percent in equities. The objective is to achieve a rate of return comparable to the return of the broad equity market.
• The Balanced Fund is a moderately conservative investment option that include exposure ot bonds and stocks. The objective is to seek curent income and some capital appreciation. The Balanced Fund began as of Jan. 1, 2018 and was preceded by the Bond Fund from 2012-17 and the Stable-Value Fund before 2012.
• The International Equity Fund primarily invests in non-U.S. markets traded on a variety of stock exchanges and denominated in a variety of currencies around the world. The objectives are to provide long-term capital growth and to achieve a rate of return comparable to the return of the non-U.S. developed equity market over a full market cycle.
• The Inflation Protection Fund invests in mutual funds and/or directly in assets that include but are not limited to commodities, real estate securities, and inflation-linked bonds. The objective is to provide, over a full market cycle, a real rate of return that exceeds inflation.
• The Socially Responsive Equity Fund primarily invests in mutual funds and/or directly in U.S. equities. The fund attempts to avoid companies that receive a significant portion of their revenue from alcohol, tobacco, nuclear power, or weapons. The objectives are to achieve positive long-term capital growth and earn a rate of return comparable to the return of the broader equity market while reflecting social priorities.

For more detailed information about each fund, consult the "Passport Funds" section of the Teachers' Retirement System website at www.trsnyc.org and the annual TRS publication Fund Profiles. The BERS TDA only offers the Diversified Equity and Fixed Return Funds.

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.

You may be eligible for a TDA loan if

• you have participated in the TDA Program for at least one year;
• you are an in-service member, or you are on a leave of absence, or you have TDA Deferral status;
• you are not in default on an existing TDA loan.

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

If you have a username and password on the TRS website at www.trsnyc.org, you can enroll in the TDA Program online at any time. When you enroll in the TDA Program, you should also designate a TDA beneficiary, which is available on the TRS website. If you are a member of BERS, call 929-305-3800.