Search
How much money do I have to contribute to my pension?
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...
If I leave the school system before I am eligible to retire, will I get my contributions back?
If you resign and want to withdraw your pension funds, including the interest earned, you may be able to do so, depending on how long you worked and contributed. However, there may be several other choices available to you. You may be able to...
How many years do I have to work before I can retire and collect a pension?
The state laws governing the public employee pensions have changed over time. Usually the changes do not apply to people who have already joined the retirement system — in other words, the new pension plan applies only to future members. So the rules...
Is there a minimum age for retiring with a pension?
Yes, but the required age differs depending on when you joined the retirement system and what pension tier you are in. To find out the minimum age you must reach before collecting full or reduced pension benefits, you can speak to a pension...
How much of a pension will I receive?
Your pension is based on a complex formula that includes such factors as your date of appointment, your years of service, your age at retirement and your final average salary. You are entitled to an individual preliminary pension consultation any...
Do my per session earnings count toward my final average salary?
Yes, if they are earned during the year(s) that are included in calculating your final average salary, although certain caps may apply. The UFT won this important benefit in a landmark lawsuit against the city.
Is the amount of my pension guaranteed?
Yes, the type of pension plan that covers UFT members is called a defined benefit plan because the amount of your annual pension payments is defined by law and guaranteed by the state government for as long as you live.
Why should I choose a beneficiary?
It is very important to choose a beneficiary or beneficiaries so you can be sure that if you die while you are still working for the New York City public schools the person(s) you choose receives your death benefit, instead of leaving it up to the...
How may I choose or change a beneficiary?
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...
Are married members required to designate their spouse as their beneficiary?
No. They may designate someone else if they choose.