If you've just started your first teaching job, we know you have a lot on your plate right now – especially in these extraordinary times. What with juggling social distancing in the classroom, plus remote instruction, on top of learning a new job, you don't need to be worrying about your financial security. That's where we come in: we are already helping you prepare for your retirement.
Please take a few minutes out of your hectic schedule to become familiar with us – the New York State Teachers' Retirement System, or NYSTRS. Our sole mission is to provide you at the end of your career with a secure pension that you can't outlive.
Start by visiting the New Members page found under the Active Members tab at NYSTRS.org. There you will find links to several short, entertaining videos about NYSTRS as well as some useful brochures, including "What New Members Need to Know About NYSTRS," "Your First Look at NYSTRS," and "Looking to the Future Stage 1: Early in Your Career."
As a Tier 6 member of the Retirement System, you automatically contribute 3-6% of salary, depending on your pay scale. Your employer also contributes a percentage of salary annually.
These contributions, combined with investment earnings generated by the Retirement System, provide what is known as a defined benefit pension – a guaranteed pension payment for the rest of your life after retirement.
Your pension is vested, or guaranteed, when you achieve 10 years of service credit. If you stop teaching in a public school before 10 years, you may withdraw the amount you contributed to the Retirement System plus interest.
In addition to a secure pension, your NYSTRS membership will provide additional benefits as you reach certain service milestones. Some of these benefits include: an in-service death benefit, a disability retirement benefit, and the ability to take a loan from your contributions.
The first thing we suggest you do is create a secure, online MyNYSTRS account, where you will be able to find all your NYSTRS membership information. Go to NYSTRS.org and click on the MyNYSTRS Login tab near the top of any page. Then click on the Register button and follow the step-by-step instructions.
Creating a MyNYSTRS account also allows you to sign up for e-subscription of Your Source, our active member newsletter, and to request email delivery of your Benefit Profile, an annual personalized summary of your membership status that you will begin receiving once you have completed one year of work.
Welcome to NYSTRS!