What are the five retirement systems that comprise the New York City pension funds?
100
The name of the program members can optionally participate in to accumulate additional retirement income
What is Tax-Deferred Annuity?
100
The type of retirement allowance that a member receives based on age, years of service, and a salary multiplier
What is a defined benefit?
100
The name of the funds that members in tier I/II and those that participate in TDA can invest their contributions in
What are the passport funds?
100
The types of earnings that contributions are collected against
What are Pensionable earnings (regular pay, per session, class coverage, and sixth period)?
200
The rules that determine when a member accumulates enough service to secure a retirement
What is Vesting?
200
The major advantage of participating in our TDA program in addition to accumulating retirement income and early up to 8 1/4% on fixed.
What is reduction in taxable income?
200
The amount that a member begins to receive monthly while their retirement benefit is being finalized
What is an advance payment?
200
The annualized performance figures produced monthly that show monthly, quarterly, 1, 3, 5, 10, 15 and 20 year performance for each of the variable funds
What are the program returns?
200
The different types of contribution rates that Tier III/IV members may have
What are BMC and AMC?
300
The population of the New York City workforce that makes up the majority of mandatory TRS members
What are teachers or pedagogical positions?
300
The amount that the IRS sets as the limit for TDA contributions for a tax year
What is the goal amount?
300
The type of benefit where the monthly retirement amount is calculated based on the member's election to provide for continuing monthly benefit to a survivor after their death
What is Joint and Survivor?
300
The three new investment funds introduced in July 2008
What are the International Equity, Inflation Protection and Socially Responsive Equity funds?
300
The legislation that enables a member to stop contributing the BMC towards their pension after 10 years of membership or 10 years of credited service
What is Chapter 126?
400
Non-vested members, seven full school years after separating from service
What is an expired member?
400
The amount that a member must take annually as a taxable distribution upon reaching age 70 1/2 when they have not annuitized their TDA balances.
What is Required Minimum Distribution?
400
The type of benefit that a tier I/II member can elect upon accumulating a minimum account balance to fund their retirement
What is an excess withdrawal?
400
Process for moving existing balances between the different investment funds
What is a fund conversion?
400
The program that became effective December 10, 2009 that required 4.85% until 27 years of accumulated service to retire at 55 with 27 years of service
What is Tier IV Next Generation?
500
Internal Revenue Code (IRC) that our QPP retirement plan is administered under
What is 401(a)?
500
Non-vested members, seven full school years after separating from service
What is an expired member?
500
Provided to Tier I/II members by the city when it could not afford raises allowing members to reduce their contribution rate based on the city making the contribution for them?
What is Increased Tax Home Pay
500
The set of U.S. government financial statements comprising the financial report of a state, municipal or other governmental entity that complies with the accounting requirements of the Governmental Accounting Standards Board (GASB) published annually by TRS
What is the CAFR?
500
The portion of the AMC contribution that is non-refundable to the member upon withdrawal but is refundable if participation in the Age 55 Program ends