Payroll & pension deduction

he buying power of a membership composed of more than 650,000 NYSUT members generates significant savings on its own. However, members that utilize either payroll or pension deduction as a payment option when purchasing NYSUT Member Benefits-endorsed programs can save even more — up to 20 percent.

Payroll or pension deduction offers the following:

• You never have to worry about forgetting premium due dates or deal with the inconvenience of writing and mailing out checks.
• Easier on your budget. Annual premiums are divided into smaller payments and deducted from your paycheck or monthly pension benefit.
• Payroll/pension deduction payments are good for the environment as the printing and mailing of paper bills is eliminated.
• Additional savings come with most of our programs when payroll or pension deduction is utilized.

Payroll or pension deduction is currently available for the following Member Benefits programs: Auto Insurance; Catastrophe Major Medical Insurance (not available to new applicants); Dental and Vision Plans (pension deduction only for vision plan); Disability Insurance (payroll deduction only); Financial Counseling Program; Home, Renter’s and Boat Insurance; Legal Service Plan; MetLife Long-Term Care Insurance (not available to new applicants); Personal Excess Liability Insurance; Purchasing Power (payroll deduction only); Term Life and Level Term Life Insurance; and WrapPlan® II Universal Life Insurance.

Approximately 88 percent of NYSUT members have payroll or pension deduction available to them. If your local association has arranged for payroll deduction with its employer, you are eligible to use this payment option.

Pension deduction is available to retirees collecting a monthly pension benefit from the New York State Teachers’ Retirement System, New York City Teachers’ Retirement System, New York State and Local Employees’ Retirement System, or New York City Board of Education Retirement System. It is also an option for retirees receiving a monthly lifetime annuity from TIAA.

Important Note: You must have an active NYSUT membership as an in-service or retiree member to participate in payroll or pension deduction of NYSUT Member Benefits-endorsed programs.

1. Select either payroll or pension deduction at the time of application for any of our eligible programs.
2. Fill out the appropriate authorization form and return it with your application.
3. Please do NOT send any payment. Member Benefits will be notified of the change and advise your employer’s business office or retirement system to begin your deductions.

If payroll or pension deduction is available to you as a payment option; you already participate in any of the endorsed programs mentioned above; and you are currently using an alternate payment method, you have the option to convert to payroll or pension deduction.

When you receive your premium renewal notice, mail it along with a signed payroll or pension deduction authorization form (included with your renewal notice) to the address indicated. If it is not included, contact Member Benefits to request the appropriate form.

You can learn more about payroll/pension deduction of Member Benefits-endorsed programs by visiting memberbenefits.nysut.org or calling 800-626-8101.