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​For questions about your pension, contact the New York State Teachers Retirement System: 518-447-2900

For questions about benefits offered by the district in retirement, please call Annette Sicuranza: 516-441-4037

For questions about what retirees receive from GNTA’s Benefit Trust Fund, contact Kevin Chavarria at the Dickinson Group: 516-740-5337

If you are a "newer" teacher and would  like to preview Stacey Braun's webinar geared for your financial planning, check out: From Hire to Retire – Financial Planning for Newer Teachers (Years 1-10)

NYSTRS PREP SESSIONS: SIGN UP NOW! 

No matter how far along you are in your career, careful financial and retirement planning are critical. That’s why our Pension & Retirement Education Program (PREP) seminar is so valuable. The seminar will help you understand your NYSTRS benefits while also providing essential retirement-planning tips, which will help you develop a plan to achieve your retirement goals. Seminars are held from 8:30 a.m. to 1 p.m. with registration beginning at 8 a.m. Topics include: NYSTRS benefits, financial planning, Social Security, estate planning and the retirement process. Seminars are free and your spouse/companion may attend but you must make reservations in advance.

NYSTRS ANNUAL DELEGATE REPORT AND RESOURCES

NYSTRS’ 2023 Delegates Meeting was held Nov. 5-6 at the Saratoga Springs City Center. Nearly 600 delegates from across the state participated in the meeting, which featured educational presentations about NYSTRS' benefits and the strength and stability of the pension system.

Following are videos and slides from the presentations and sessions conducted at the Delegates Meeting.

The Role of the Delegate: As a delegate, you have two important functions: elect a teacher member to NYSTRS’ Board and serve as a System ambassador to your peers. Learn about our various resources to keep you and your fellow teachers informed about your benefits and to plan for retirement.
Social Security Information: What do you need to know? We review key information, including benefit eligibility, calculations, taxes, earnings limits and cost-of-living adjustments.
Tier 6 Overview: Learn key information about Tier 6, including member contributions and eligibility for benefits.
Legal Update: Review of POAs, DROs and Trusts: Learn about important legal documents, including Power of Attorney (POA), Domestic Relations Orders (DRO) and trusts.
Play “Retirement Quest” with Host Mr. Max Benefit: We invited delegates to the stage to play our new game show “Retirement Quest” hosted by Mr. Max Benefit. Two teams of delegates navigated their way through the career stages to make it to Retirement. Contestants answered questions about a member’s early-, mid- and late-career stage to win Retirement Quest! A panel of NYSTRS’ Expert Guides provided insight on the answers and contestants received prizes!
The Strength and Stability of the System: Learn about NYSTRS’ funding and investment philosophies and how they lead to long-term success, strength and stability. We provided an overview of the health of the Retirement System and the thoughtful approach to managing the System’s assets.
Yours in solidarity,

Jen, Frank, Luci and Patti

GNPS AND GNTA BENEFITS IN RETIREMENT 2023

Stacey braun's financial planning webinar 2023

The Vimeo link below is for Stacey Braun’s financial planning webinar for new teachers. In it they discuss:

  • Tier 6
  • Basics of 403b and 457b plans
  • Saving early
  • Buying a home
  • Debt and Credit
  • Student Loans

vimeo.com/868822810/70e78c43ba 

resources for retirees 

Learning about nystrs

 DID YOU KNOW?

For Tier 2-5 members, your FAS is generally the average of your highest three consecutive school years of salary earned, whenever they occurred in the salary history.  Tier 6 members must use a five-year FAS with restrictions on includable salaries.

EMPLOYER CONTRIBUTION RATE (ECR)
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The Employer Contribution Rate (ECR) is the percentage of member payroll employers contribute to NYSTRS.  This rate is determined annually through an actuarial valuation of NYSTRS' assets and liabilities. These contributions have been collected without fail throughout the System's history, keeping NYSTRS among the most secure plans in the country.

The 2020-21 rate charged to districts is 9.53 percent of school year salaries; the ESTIMATED 2018-19 rate will fall between 9.5 and 10 percent.  An Administrative Bulletin will be provided in February 2021 with a more precise estimate of this ECR.

​Take a look below for the history of the Employer Contribution Rate (ECR) in New York State (NYS):
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NYSTRS RETIREMENT
-RELATED FORMS

Download and print NYSTRS forms. Call our Hotline at (800) 782-0289 to request forms be mailed to you.
Service Retirement Application (RET-54)

You can file a service retirement application up until your effective date of retirement, but no sooner than 90 days before your retirement date.
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Proof of Date of Birth (RET-45)

Distribution Election for ASF – Tier 1 and 2 (REF-30)

Direct Rollover of Taxable ASF (REF-30.2)
If filed, must submit with Distribution Election for ASF (REF-30).

Direct Rollover of After-Tax ASF (REF-30.3)
If filed, must submit with Distribution Election for ASF (REF-30).

Disability Retirement Application Package (RET-54.1; RET-54.3A; RET-54.5; RET-54.1B; RET-54.3).
Please refer to NYSTRS' pamphlet If You Are No Longer Able to Work, which offers guidelines for making disability retirement decisions.

Additional Medical Report for Disability Retirement Applicants (RET-54.3)
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Election of Retirement Benefit (RET-54.6).
To change the benefit payment choice you made on your retirement application, you may file this form within 30 days of your retirement date.

SERVICE CREDIT

1 Year of Credit

  • You will be covered by an in-service death benefit.
  • If you are a Tier 3-6 member who dies as the result of an accident sustained while teaching, an accidental death benefit may be payable to your beneficiary instead of the in-service death benefit.
  • If you are a Tier 3-6 member and the balance of your member contributions and interest is at least $1,334, you can take a loan from your funds. If you are a Tier 1 or 2 member, you must have a minimum of $400 in your Annuity Savings Fund to be eligible for a loan. For more information about loans, see our publication Borrowing From Your NYSTRS Contributions.
2 Years of Credit
​You will be eligible to purchase credit for prior service. For more information, see our publication You Deserve the Credit.

5 Years of Credit
If you are a Tier 3 or 4 member, your pension will be vested, and you will be eligible for a NYSTRS service retirement benefit at age 55.

10 Years of Credit
  • If you are a Tier 4 member, you will stop making 3% required contributions when you attain 10 years of credit or membership, whichever occurs first.
  • If you are a Tier 5 or 6 member, your pension is vested (earlier tiers vest at five years) and you likely will be eligible for a service retirement benefit at age 55. (Tier 6 members with an inactive membership must be at least 63 to retire.)
  • You may be eligible for a disability retirement benefit if you cannot continue to work because of an illness or injury.
  • If you leave teaching with at least 10 years of service credit and die before retirement, you will be covered by a vested death benefit of half the in-service death benefit that would have been paid on the last day of working.

20 Years of Credit
  • If you are a Tier 1 or 2 member, the pension factor used in your benefit calculation will no longer include a service-related reduction.
  • If you are a Tier 3 or 4 member, the pension factor used in your benefit calculation will increase from 1.67% per year to 2% per year.
  • If you are a Tier 6 member, the pension factor used in your benefit calculation will increase from 1.67% per year to 1.75% per year (i.e., 35% for your first 20 years) plus 2% for each year beyond 20.

25 Years of Credit
  • If you are a Tier 5 member, the pension factor used in your benefit calculation will increase from 1.67% per year to 2% per year.

30 Years of Credit
  • If you are a Tier 2, 3 or 4 member, you can retire without an age-related reduction to your pension factor when you attain 30 years of credit or reach age 62.
  • If you retire under Tier 4, you will receive an additional 1.5% per year toward your pension factor for each year of credit beyond 30 years.
  • If you are a Tier 5 member, you can retire without an age-related reduction to your pension factor when you retire either at: age 62 or later; or, at age 57 or later with at least 30 years of service credit.
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35 Years of Credit
  • If you are a Tier 1 member, you can retire at any age.

​It is important to HAVE ALL THE CREDIT FOR WHICH YOU ARE ELIGIBLE because your total service credit impacts your eligibility for NYSTRS benefits — and often the amount of those benefits. The following types of service can build your credit and help you reach important service milestones:

This information is meant to serve as a guideline. As always, go to NYSTRS.org for the most current information.

​NYSTRS presentation given by Trustee Ron Gross to GNTA & SAGES