| Posted By |
Message |
Junebaby41
LIF Infant
Member since 10/10 243 total posts
Name:
|
NYC vs nys pension plan and tiers
If you work in the NYCDOE is the pension and tier the same as if you were working on Long Island? If someone were to transfer to Long Island, would the tier be different? Would the pension and time be different? Is the 25/55 program just in NyCDOE?
|
Posted 4/3/13 5:24 PM  |
| |
|
Michmouse
LIF Adult
Member since 11/07 1260 total posts
Name:
|
Re: NYC vs nys pension plan and tiers
Are you in the NYSTRS? (New York state teachers retirement system)
If so, I do not think your tier would change but I'm not sure there is such a thing as a transfer between any two districts. There would be a loss of seniority and pay if you came to my district even as an experienced teacher.
25/55? I wish! It was offered once in my fifteen years of teaching but that's it. Is 55/25 always available to NYC teachers?
Hopefully someone who has made the transition can be of more help. 
Message edited 4/3/2013 8:13:39 PM.
|
| Posted 4/3/13 7:43 PM |
| |
|
LL514
LIF Adult
Member since 4/10 1901 total posts
Name:
|
Re: NYC vs nys pension plan and tiers
If you are in the NYSTRS then your tier won't change if you change jobs.
Other than that, I don't know about the nyc retirement system and if it is different, sorry.
|
| Posted 4/3/13 9:34 PM |
| |
|
FranM
And so it goes....
Member since 9/05 2217 total posts
Name:
|
NYC vs nys pension plan and tiers
If you are already a NYSTRS member there is no change in your tier. If you are not your time in the TRS can be transferred to NYSTRS. From what I understand 25-55 is strictly NYC.
I am not a teacher, I am a financial planner that specializes in retirement planning. I have a lot of teachers as clients.
|
| Posted 4/4/13 4:28 PM |
| |
|
DiamondGirl
You are my I love you
Member since 7/09 18802 total posts
Name:
DiamondMama
|
NYC vs nys pension plan and tiers
NYCDOE now offers 27/55, 25/55 is no longer an option if you did not opt in during the last offer
|
| Posted 4/4/13 8:26 PM |
| |
|
Jacksmommy
My love muffin!
Member since 1/07 5819 total posts
Name:
Liz
|
Re: NYC vs nys pension plan and tiers
I am a long Island teacher. I used to teach in the city and transferred my time to NYSTRS. I have to have 30 years in and be 55 to retire (I started at 25 so I will be 55 at 30 years in!)
|
| Posted 4/4/13 8:27 PM |
| |
|
Teacher244
LIF Infant
Member since 4/12 56 total posts
Name:
|
Re: NYC vs nys pension plan and tiers
The 25/55 is for people who were hired before like 2009 in the NYC dept of Ed. Basically it just means u need to have 25 years on AND be 55 years old to retire ...it has to be both. You won't get a full pension unless you have both. So I started at 24. At 55 when I retire, I will have 31 years. I can retire with a full pension at 54 since ill have 30 years but I can't collect anything until I'm 55. But like someone posted previously, it's now 27/55.
|
| Posted 4/5/13 7:40 PM |
| |
|
NewMrsG
Love my GiGi
Member since 12/11 1442 total posts
Name:
Mrs. G
|
Re: NYC vs nys pension plan and tiers
Posted by LL514
If you are in the NYSTRS then your tier won't change if you change jobs.
Other than that, I don't know about the nyc retirement system and if it is different, sorry.
Your tier does not change...but NYC and NYS have different retirement systems. So they start you in a new retirement, and you have to combine them if you want wherever you think you will stay.
I started in westchester so my retirement system is there but also one in nyc. I haven't moved either yet because I have been jumping around too much and only my second year in the city.
|
| Posted 4/16/13 12:21 PM |
| |
|
