| Serving New York Educators Since 1921 |
Library
Your First Look at NYSTRS
What is NYSTRS? | Earning Service Credit | How to Increase Service Credit Member Contributions | Your First Year and Beyond | Contact NYSTRS
What is NYSTRS?
The New York State Teachers' Retirement System (NYSTRS) is a public pension fund that administers retirement, disability and death benefits for most of this state's active and retired public school teachers and administrators. (Those employed by New York City schools are, by law, members of another system.)
If I teach in a public school outside of New York City, must I join NYSTRS?
You must join if you work full time (every day for the entire work day) under contract for the duration of the school year in a public school, BOCES or charter school that is a participating NYSTRS employer. You have the option of joining if you are employed less than full time or if you are employed, either full or part time, in a state community college or SUNY. In most cases, joining the System when first eligible is in your best interest, as you will begin earning service credit and establishing your eligibility for benefits.
Earning Service Credit
Working Full Time
You will be credited with one year of service if you work the equivalent of at least 170 full-time days during a July 1 to June 30 school year. You cannot be credited with more than one year of service in a school year, even if you earn extra salary for other responsibilities, such as coaching or teaching summer school.
Working Part Time
You can receive credit for part-time and substitute teaching within a school year, provided you work at least the equivalent of 20 full days. Days worked in different school districts are combined to determine your total credit. Only days worked in the same school year can be added together when calculating service credit.
Days of service are converted into months of credit as follows:
Days Per Year
Credit
Days Per Year
Credit
Under 20 days
=
None
90-109 days
=
5 months
20-29 days
=
1 month
110-129 days
=
6 months
30-49 days
=
2 months
130-149 days
=
7 months
50-69 days
=
3 months
150-169 days
=
8 months
70-89 days
=
4 months
170+ days
=
9 months
9 months = 1 year
How to Increase Service Credit
There are several ways to receive additional service credit. Some of the most common are discussed here. For other types of credit, or for additional information on these, refer to NYSTRS' Active Members' Handbook or our brochure You Deserve the Credit. Applications to apply for additional credit can be found on the Forms page of our Web site.
Purchasing Prior Service Credit
After you have earned two years of NYSTRS credit, you are eligible to purchase credit for prior New York State or New York City public school teaching, as well as public employment that was or could have been credited in another New York State public retirement system. As a Tier 5 member, unless you are eligible for reinstatement to an earlier tier, the cost is 3.5% of the salary received during the period of service, plus 5% interest per year.
Military Service Credit
You can receive credit for active military service that interrupts your NYSTRS teaching, or for prior active military service during periods specified by New York State law. Refer to the Active Members' Handbook to learn about the specified periods and how to apply for this credit.
Transferring Credit
If you are currently a member of another New York State public retirement system and no longer work in employment reportable to that system, you may transfer your service and membership from the other system into NYSTRS. However, you cannot receive more than one year of credit within a school year if your service was concurrent and you must apply for the transfer with the other public retirement system.
If you leave teaching and become employed under another New York State public retirement system, you may transfer out of NYSTRS and into the other system. You cannot transfer to, or from, an out-of-state public retirement system.
Reinstatement
If you had a previous membership in this System or any other New York State public retirement system, you are eligible to be reinstated to your earliest date of membership. You will receive the service credited under that membership, provided it is not credited in another system, along with any possible advantages of an earlier tier.
Member Contributions
Unless you are eligible to reinstate to an earlier tier of membership, as a Tier 5 member you are required by law to contribute 3.5% of your salary throughout your membership. Required contributions help fund your pension at retirement. They do not provide you with a separate annuity or any other retirement benefit. If you have contributions in the System:
- Contributions are subject to New York State income tax when they are made.
- Contributions are not subject to federal income tax until they are received as part of a withdrawal, retirement benefit, death benefit or loan (see Borrowing From Your Contributions below).
- You can borrow from your contributions fund once you meet eligibility requirements (see Borrowing From Your Contributions below).
- For purposes of borrowing or withdrawal of membership only, contributions accrue 5% interest (tax deferred) annually.
- Contributions plus interest are paid to your beneficiary or estate if you die before you retire.
If you leave teaching before you have 10 years of service credit, you can withdraw your contributions and interest. Withdrawal cancels your membership and forfeits your right to a future benefit. The membership withdrawal form is available on our Web site.
Borrowing From Your Contributions
Although it's not recommended due to possible severe tax consequences, you can borrow from your contributions fund after you have one year of credit and a balance of at least $1,334.
- The loan must be at least $1,000 and cannot exceed 75% of your fund.
- You can borrow once during each calendar year.
- Loans, which are repaid by payroll deduction, have a maximum five-year repayment schedule, and are charged interest at the annual rate of 7%.
Your First Year and Beyond
1 Year of Credit
- You will be covered by an in-service death benefit.
- If you die as the result of an accident sustained while teaching, an accidental death benefit would be payable instead of the in-service death benefit.
- You will be eligible to borrow from your required member contributions when the balance is at least $1,334.
2 Years of Credit
- You will be eligible to purchase credit for prior service, as described in the How to Increase Service Credit section.
10 Years of Credit
- Your pension is vested, or guaranteed. You will be eligible for a retirement benefit at age 55, even if you do no further teaching in New York State, as long as you do not transfer your membership.
- You may be eligible for a disability retirement benefit if you cannot continue to work because of an illness or injury.
- If you leave teaching with at least 10 years of service credit and die before retirement, you will be covered by a vested death benefit of one-half the in-service death benefit that would have been paid on the last day of working.
Contact NYSTRS
On the Web
Visit our Web site at www.nystrs.org for the latest NYSTRS and retirement benefit news, to read System publications in our library and print forms.
By Mail
Write to us at:
New York State Teachers' Retirement System
10 Corporate Woods Drive
Albany, NY 12211-2395
By Phone
Call our Hotline at (800) 782-0289 for the latest news and to request System publications and forms.
Call (800) 348-7298 to speak with a System representative.
