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NYS Teachers Pension
Old 02-16-2013, 12:48 PM   #1
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NYS Teachers Pension

My DW has been in the NYS teachers union for 2 years we have quite a few to go. She is Tier 5 for those in the know. Anyhow, she doesn't like to ask questions of HR (for some crazy reason) so I was wondering if any of you can provide me some insight on how the pension works for NYS Teachers.

Is it a percentage of base salary per year? What is the earliest you can start withdrawing? Is there a penalty for early withdrawl?

I truly appreciate any insight...THANKS!
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Old 02-16-2013, 12:57 PM   #2
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Quote:
Originally Posted by christrong View Post
My DW has been in the NYS teachers union for 2 years we have quite a few to go. She is Tier 5 for those in the know. Anyhow, she doesn't like to ask questions of HR (for some crazy reason) so I was wondering if any of you can provide me some insight on how the pension works for NYS Teachers.

Is it a percentage of base salary per year? What is the earliest you can start withdrawing? Is there a penalty for early withdrawl?

I truly appreciate any insight...THANKS!
Your DW doesn't really don't need to talk with HR, just ask one question. Which pension plan is she enrolled in. Once you know that, you both can talk directly with the pension administrators, and if they have a web site (likely), get all the info you need there.
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Old 02-16-2013, 01:16 PM   #3
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Originally Posted by christrong View Post
My DW has been in the NYS teachers union for 2 years we have quite a few to go. She is Tier 5 for those in the know. Anyhow, she doesn't like to ask questions of HR (for some crazy reason) so I was wondering if any of you can provide me some insight on how the pension works for NYS Teachers.

Is it a percentage of base salary per year? What is the earliest you can start withdrawing? Is there a penalty for early withdrawl?

I truly appreciate any insight...THANKS!

NYS Teachers' Retirement System
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Old 02-16-2013, 01:49 PM   #4
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Link

After the first response I found the link to the benfits page...

Service Retirement | Benefits | NYS Teachers' Retirement System

But I notice the age factor does not provide any information. Does anyone have details on this?
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Old 02-16-2013, 02:18 PM   #5
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I noticed on the link they have an 800 number where you can talk live to a person. I would call them and they can direct you. HR at your place might not be a good place to ask about pensions anyways. In my state HR departments in schools have no connection to the retirement system, so asking them was pointless.
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Old 02-16-2013, 07:33 PM   #6
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NYSTRS Active Members' Handbook

Explains everything.
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Thanks.
Old 02-17-2013, 07:54 AM   #7
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Thanks.

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Originally Posted by tinlizzy View Post
NYSTRS Active Members' Handbook

Explains everything.

That answered all of my nagging questions! Thanks guys. Makes me feel stupid that in a year I never found that.
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