“Fall” into retirement

Congratulations on your impending retirement. The New York State Teachers’ Retirement System has two helpful resources to guide members through the year leading to retirement: The Countdown to Retirement pamphlet and “The Retirement Process” video.

Below are steps to take in your final year at work. The main NYSTRS phone number is 800-348-7298. Please use the extension indicated in each step:

• Review your contract — find out when you should notify your employer of your retirement date, and make an appointment with them to discuss health insurance coverage in retirement.
• If eligible, claim and purchase prior service credit for past New York state public employment or military service. For details, watch “PSI: Prior Service Investigation” at nysut.cc/member-info.
• Attend a TRS Pension & Retirement Education Program presentation. Each free half-day PREP session runs from 8:30 a.m. to 1 p.m. Register online using your MyNYSTRS account or call NYSTRS, Ext. 6180.
• Schedule a telephone or online benefits consultation with a NYSTRS representative to review the retirement process and get estimates for possible retirement dates. Register online using your MyNYSTRS account or call NYSTRS, Ext. 6100.
• Read Maximum or an Option for more details on choosing a benefit payment that is right for you. There are several helpful publications at nystrs.org/library.
• Check your Benefit Profile. Is your service and salary information accurate? Ask your employer to send NYSTRS revised information if you find mistakes. If you have any questions, call Ext. 6250.
• If you are eligible to receive Social Security benefits at the end of the school year, contact the Social Security Administration for info.
• Use the online MyNYSTRS pension estimator to project your benefit, nystrs.org. You must have a MyNYSTRS account to access this.
• Explore the retirees’ page at nystrs.org/retirees.

The filing period for a July 1 retirement begins April 2. You can file your application for retirement via mail or online through My NYSTRS up to 90 days prior to your effective date of retirement or as late as the date of retirement.