| Posted By |
Message |
happytobreathe
The Lazy Days of Summer
Member since 10/06 1413 total posts
Name:
|
NYC Teachers...TRS % AND TDA %
Hello Ladies,
Can I ask what percent of your salary you have going into TRS? TDA?
I put it all in variable A, because you all had some great advice. Now what percent do I put in???
Thanks so much!
ETA: I am only 25, so does that change your thought?
|
Posted 7/17/09 12:45 PM  |
| |
|
snowflake08
Love my boys!!!
Member since 8/07 5148 total posts
Name:
Laura
|
Re: NYC Teachers...TRS % AND TDA %
the best advice i got was from people who are in the business and family members
i put in 11% right now and it is in fixed
NOT in the stock market
fixed is paying 7% in TDA and you are not guaranteed that kind of return on any stock
put in as much as you can (since it lowers your taxable income)
at 25 years old, you still have time for a market recovery, and can switch it later to fixed
|
| Posted 7/17/09 12:56 PM |
| |
|
snowflake08
Love my boys!!!
Member since 8/07 5148 total posts
Name:
Laura
|
Re: NYC Teachers...TRS % AND TDA %
sorry i was talking about tda
trs you have no control over
they take 2% of your salary for your pension and you pay for the first 10 years that you work. after that you dont pay into it anymore.
|
| Posted 7/17/09 12:57 PM |
| |
|
MissJones
I need a nap!
Member since 5/05 22136 total posts
Name:
|
Re: NYC Teachers...TRS % AND TDA %
I have 15% in Variable A. I figure while it's REALLY low right now, it WILL come back up. I was always told to put it in fixed 5 years before you retire.
As for TRS, that is automatic and I think it's 3%. However, after 10 years, you no longer put into it but I was told to then take that 3% and put it someplace else since you are already used to NOT having it.
|
| Posted 7/17/09 1:17 PM |
| |
|
happytobreathe
The Lazy Days of Summer
Member since 10/06 1413 total posts
Name:
|
Re: NYC Teachers...TRS % AND TDA %
Ok so of the 15% how much of my TDA do I put in Variable A or Variable B?
|
| Posted 7/17/09 2:43 PM |
| |
|
BabyLove08
Love her!
Member since 2/08 3673 total posts
Name:
|
Re: NYC Teachers...TRS % AND TDA %
Posted by snowflake08
sorry i was talking about tda
trs you have no control over
they take 2% of your salary for your pension and you pay for the first 10 years that you work. after that you dont pay into it anymore.
Hi,
It's actually 3% that TRS takes out, not 2%:)
|
| Posted 7/17/09 2:59 PM |
| |
|
|
|
Re: NYC Teachers...TRS % AND TDA %
I take out 15% right now and it's all in A..if you are living at home or you can, do more now but do as much as you possible can!
|
| Posted 7/17/09 5:05 PM |
| |
|
Erica
LIF Adult
Member since 5/05 11767 total posts
Name:
|
Re: NYC Teachers...TRS % AND TDA %
just a reminder about the TRS. It's 10 years of membership NOT service, so that's why it's super important to sign up for the TRS as soon as you can - i.e. when subbing.
|
| Posted 7/18/09 1:37 PM |
| |
|
Candy Girl
Candy girl- you are so sweet!
Member since 11/07 6349 total posts
Name:
erin
|
Re: NYC Teachers...TRS % AND TDA %
I put 19% into my TDA and it is currently all going into fixed. In the past I have split between fixed/Variable A and I even tried out the international fund for a while. Even though I put in a lot, I feel like it is going nowhere! I have been contributing for about 6-7 years (been teaching 9) and while I haven't always contributed 19%, I feel like I sholud have more. Oh well, guess it takes time.
|
| Posted 7/18/09 8:06 PM |
| |
|
Candy Girl
Candy girl- you are so sweet!
Member since 11/07 6349 total posts
Name:
erin
|
Re: NYC Teachers...TRS % AND TDA %
Posted by happytobreathe
Ok so of the 15% how much of my TDA do I put in Variable A or Variable B?
Don't do Variable B at all!!!!
There is fixed: 7% (used to be 8.25)
Variable A
Variable B
International Fund
Green Fund (not the real name, but you get what it means)
And some other fund that is supposed to keep up with inflation.
Don't do B. It has historically performed terribly and there was even a lawsuit brought against the TRSTDA by a retired man who said that he was never advised of the risks of Variable B and he didn't have enough to live on as a result. He lost. (My DH reads the NY Law Journal everyday, so he always tells me about the DOE cases.)
|
| Posted 7/18/09 8:10 PM |
| |
|
Spring Baby06
My two loves
Member since 5/05 3612 total posts
Name:
Jillian
|
Re: NYC Teachers...TRS % AND TDA %
I put 10% total
-85% is Variable A, and 15% in B
|
| Posted 7/18/09 11:41 PM |
| |
|
happytobreathe
The Lazy Days of Summer
Member since 10/06 1413 total posts
Name:
|
Re: NYC Teachers...TRS % AND TDA %
Wow- You ladies a great source of knowledge! Thank you!
|
| Posted 7/19/09 11:18 AM |
| |
|
vitha
LIF Infant
Member since 8/06 191 total posts
Name:
|
Re: NYC Teachers...TRS % AND TDA %
What is Variable A and B exactly? does it correspond with the QPP or the TDA?
I have the investment election form and nowhere on it does it say anything about A or B. The catagories are Fixed Return, Diversified Equity, Stable-value, International, inflation protection and Socially responsive.
What should I be putting my $ into?
|
| Posted 8/24/09 4:09 PM |
| |
|
