TRS: Claiming prior service? A delay could be costly
Q: I am a newly tenured, career-change teacher in my fourth year. Prior to teaching, I worked as a New York state employee in various government positions and belonged to the Public Employees Federation. I vested after 10.5 years and changed to another career prior to teaching. Can those years of state service be transferred to TRS? If so, what would be the procedure?
A: Yes — and do it as soon as possible so that you will be refunded part of the 3 percent payments you have made to the TRS (after 10 years of public retirement service membership, members no longer pay the 3 percent.)
If you had transferred earlier you would not have had to pay the 3 percent — but at least you will be able to recoup this school year's payments if you file now.
Contact the TRS at 800-348-7298, ext. 6250, and request the forms to transfer from the ERS to the TRS.
It is suggested that you send mail certified, return receipt.
Q: I expect to move out of state next year. Would it be advisable for me to buy my 4.8 years of credited substituting? The cost is $3,000 and I only have 13 years of service.
Should I take a loan and buy those 4.8 years, or will my retirement be so dismal that it won't make any difference?
A: Only you can decide whether it is worth it to you to buy back prior service and have a larger pension.
We suggest you contact TRS at 800-348-7298 to arrange for a video consultation in your area. This will give you retirement amounts for both scenarios.
Q: I am a full-time student; however, I substitute on school breaks. When will Tier 5 go into effect? I have not subbed 20 days yet. Can I apply to the system before I have 20 days in, just to be able to join Tier 4?
A: You do NOT need 20 days to join the system and be in Tier 4; one day as a member is sufficient.
Download an application form from www.nystrs.org and have the school district fill it out ON THE DAY you sub. Then mail it to the NYSTRS (certified, return receipt), 10 Corporate Woods Drive, Albany, NY 12211-2395.
You MUST become a member THAT day to be in Tier 4. The days you have already subbed will not do that for you.
As for Tier 5, it has not been signed into law; however, it is wise for anyone who substitutes to join the system now under Tier 4.
This column is written by Sheila Salenger, Michael Corn and Paul Farfaglia, your Teacher-Members on the New York State Teachers' Retirement System Board of Directors.
In-service TRS members with pension questions can call them at the phone numbers at left or e-mail ssalenge@nysutmail.org.
Retirees please call David Keefe, the retiree representative on the TRS board, at 516-741-1241.