1
Your check stub contains important information about your retirement allowance payments from
the Qualified Pension Plan (QPP) and, if applicable, your annuity payments from the Tax-Deferred
Annuity (TDA) Program. Below is an example of the retirement allowance check stubs issued to TRS
retirees since May 2008. Please note that it is to be used only as an illustration: Your check stub
would reflect only the payment types, deductions, and elections that apply to you. The following
pages explain the various types of information that may appear on the check stubs.
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0123456
01/01/12 01/31/12
01/31/12
506 12345 MAILED
15485.17
48442.81
PENSION1
FIXED RETURN
ARAF
1904.49
2575.67
3509.26
11975.91
2876.41
1020.59
53.25
COLA
INTEREST
RETRO PAY
265.50
804.96
6440.80
TOTAL VAR PAY
4023.66
DIVRS EQTY
BOND
INTL EQTY
INFLTN PROT
SOC RSP EQTY
9.36
33.84
36.35
48.47
66.09
79.726
23.480
22.000
17.000
13.000
746.24
794.56
799.70
823.99
859.17
BOND
INFLTN PROT
DIVRS EQTY
DIVRS EQTY
50
100
12 MONTHS
6 MONTHS
6
2
G-CBP EMPE
G-CBP/BC EE
TRSLOAN#____
NYSUT MBT
UFT
155.20
5.16
100.00
19.64
44.57
FM CT REG
COST RECVERY
IRS LIEN
698.00
182.69
499.51
1910.74
5258.07
997.04
2760.52
T-723456-0
A 01
REBECCA RETIREE
Reading Your Retirement
Allowance Check Stub
2
This column shows the month for which your QPP
retirement allowance or TDA annuity payment is
being issued.
This column shows the gross dollar amount of your
QPP retirement allowance or TDA annuity payment,
before taxes and any authorized deductions are
withheld; the gross dollar amount you have received in
the calendar year to date is also shown.
This column shows the date of your QPP retirement
allowance or TDA annuity payment check.
This column shows the amount of federal tax
withheld, based on your withholding elections
currently in effect; the amount withheld in the
calendar year to date is also shown.
This column shows your federal withholding
elections (i.e., marital status in the “MS” column, and
number of exemptions in the “EX” column). In the
“MS” column, “A” would indicate either that you
have elected single status, or that you are married but
have elected federal withholding at the single-status
rate. “B” would indicate that you have elected
married status. If no election for federal withholding
is on file, this column would show “B” (married)
with three exemptions.
Please note that you may change your withholding
elections at any time by accessing our website or by
filing a “Withholding Certificate for Pension or
Annuity Payments” (W-4P) with TRS.
This column shows that your QPP retirement allowance
or TDA annuity payment originated from TRS (agency
code 506).
This column shows your check’s sequential number.
This column shows that you have chosen to receive
your QPP retirement allowance or TDA annuity
payments via paper checks that are mailed to you.
As a reminder, TRS offers eligible retirees the
opportunity to receive their payments via Electronic
Fund Transfer (EFT). Members who choose this option
avoid the possibility of delayed, lost, or stolen checks,
because there are no checks to mail and the transfer of
funds into a bank account takes place automatically.
To enroll in EFT, please file an “EFT Authorization
Form” (code BK58) with TRS. For more information,
see the Electronic Fund Transfer brochure.
This column shows your pension number, also
known as your “TRS Retirement Number.” Please
note that your pension number (which is preceded
by the letter “T” or “U”) begins with “0” or “7” on
your QPP retirement allowance payment check, and
“5” or “9” on your TDA annuity payment check.
This column shows the total dollar amount of all
deductions withheld from the gross dollar amount of
your QPP retirement allowance or TDA annuity
payment.
This column shows the net dollar amount of your
QPP retirement allowance or TDA annuity payment
(i.e., the gross dollar amount minus the total dollar
amount of deductions).
These columns show (when applicable) the following
types of payments:
• PENSION1 – The “regular pension” portion of
your QPP retirement allowance. This amount will
remain constant from month to month. (Note: If
you are receiving advance payments of your
retirement allowance, the amount of those
payments would be shown instead.)
• FIXED RETURN – The portion of your QPP
retirement allowance (Tiers I/II members only) or
TDA annuity payments (all tiers) representing funds
invested in TRS’ Fixed Return Fund.
• ARAF (Tiers III/IV/VI members only) – The portion
of your QPP retirement allowance payment
representing your Annuity Reserve Accumulation
Fund (ARAF).
• COLA – The portion of your QPP retirement
allowance payment representing a cost-of-living
adjustment.
• INTEREST – An amount representing interest paid
(e.g., when a retroactive adjustment is made in
your payments).
• RETRO PAY – An amount resulting from a
retroactive adjustment in your payments (e.g., due
to a collective bargaining agreement or retirement
allowance revision).
• TOTAL VAR PAY – The portion of your QPP
retirement allowance (Tiers I/II members only) or
TDA annuity payments (all tiers) representing
funds invested in the variable-return Passport
Funds. When you invest in the variable-return
Passport Funds, you are credited with a set number
of units each month (see page 3), and your payment
amount may vary based on changes in the unit
value of each investment fund.
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If you have funds invested in TRS’ variable-return
Passport Funds, the following would be shown for
each fund:
1. The number of units distributed to you. (This
number is determined using an actuarial
calculation and is based on the number of units
that you had at retirement, mortality tables, and
interest rates. The number of units distributed to
you would remain constant each month, unless
you transfer funds to or from the Passport Funds.
2. The corresponding monthly unit value(s). (Generally,
these values fluctuate each month.)
3. The dollar amount distributed to you. (This
amount is determined by multiplying your number
of units by the unit value. Generally, this amount
fluctuates each month.)
Note: All Tiers I/II retirees may invest the Annuity
Reserve and Increased-Take-Home-Pay (ITHP)
portions of their QPP funds in TRS’ Passport Funds.
(This row would be blank on Tiers III/IV/VI members’
QPP retirement allowance check stubs.) All retirees
who maintain funds in the TDA Program are eligible
to invest in TRS’ Passport Funds.
These columns show (when applicable) the following
information:
• CONVERSION SOURCE – The Fund from which
you elected to move funds.
• CONVERSION DESTINATION – The Fund to
which you elected to move funds.
• PERCENTAGE – The percentage of funds you
elected to move from one Fund to another. The
percentage is in 5% increments (starting at 10%).
• DURATION – The conversion period you elected.
Conversion periods can be 3, 6, 9, or 12 months.
(Occasionally, a conversion may be completed in
a shorter period than the period elected.)
• INSTALLMENTS REMAINING – The number of
months remaining in the conversion period.
If you have more than six active conversions, the
message “ADDITIONAL FUND CONVERSIONS IN
PROGRESS” will appear.
The DEDUCTION DESC and AMOUNT THIS
PERIOD columns show (when applicable) the
following types of deductions taken from the gross
dollar amount of your QPP retirement allowance or
TDA annuity payment (If the deductions cannot be
listed separately, they will be totalled as “Other.”):
• G-CBP EMPE and G-CBP/BC EE – Health
insurance premium. The insurance provider
shown is only an example. The code(s) shown
would vary depending upon your provider.
• TRSLOAN#____– An outstanding loan from your
Tax-Deferred Annuity (TDA) Program account.
• NYSUT MBT – Premium paid to NYSUT Member
Benefits Trust and/or Corporation (NYSUT MBT)
for benefits that you purchase on a voluntary
basis. This amount may include premiums for
one or more programs (e.g., Catastrophe Major
Medical, Personal Lines Insurance, Life Insurance,
Financial Counseling Program, etc.).
• UFT – Union dues. The union shown (United
Federation of Teachers) is only an example. The
code shown would vary depending upon your
union. (Note: Other deductions that may be listed
include those for the Supplementary Health
Insurance Plan (SHIP) and the Committee on
Political Education (COPE). For more information,
see page 4.)
• FM CT REG – Deductions ordered by a Family Court.
• COST RECVERY – Deductions taken to recover
funds owed to TRS.
• IRS LIEN – A lien imposed by the Internal
Revenue Service (IRS).
The GOAL AMOUNT/TOTAL INSTALLS column shows
(when applicable) the following:
• The dollar-amount goal when a series of
deductions is being taken (e.g., for an IRS lien) or
the total number of installments.
The BALANCE DUE OR INSTALLS LEFT column shows
(when applicable) the following:
• The dollar amount due or number of installments
remaining to meet the goal amount described
above.
Note: Certain deductions (e.g., life insurance, union
dues, and health insurance premiums) would not
apply to TDA annuity payments. For more
information about health insurance, union dues, and
other deductions, see page 4.
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ADDITIONAL INFORMATION
Health Insurance, Union Dues, and Other Deductions
• Inquiries regarding health insurance coverage
should be addressed to the New York City Health
Benefits Program, 40 Rector Street, 3rd Floor,
New York, NY 10006.
Telephone: (212) 513-0470
• Inquiries regarding union-sponsored health
insurance through the UFT Supplementary Health
Insurance Plan (SHIP) should be addressed to
UFT
Headquarters/SHIP, 52 Broadway, 17th Floor,
New York, NY 10004.
Telephone: (212) 228-9060
• Inquiries regarding union-sponsored health insurance
through the Council of School Supervisors &
Administrators (CSA) Welfare Fund should be
addressed to the CSA Welfare Fund,
40 Rector Street, 12th Floor, New York, NY 10006.
Telephone: (212) 962-6061
• Inquiries regarding union-sponsored health
insurance through the Professional Staff Congress
(PSC)-City University of New York (CUNY)
Welfare Fund should be addressed to PSC-CUNY
Welfare Fund, 61 Broadway, 15th Floor,
New York, NY 10006.
Telephone: (212) 354-5230
• Inquiries regarding UFT membership dues or COPE
deductions should be directed to UFT Headquarters,
Retired Teachers’ Chapter, 52 Broadway, 17th Floor,
New York, NY 10004.
Telephone: (212) 780-0127
•
Inquiries regarding life insurance and other
benefits provided by NYSUT should be addressed
to New York State United Teachers (NYSUT)
Member Benefits, 800 Troy-Schenectady Rd.,
Latham, NY 12110.
Telephone: (518) 213-6000
(800) 342-9810
Change of Address and/or Name
You should access our website to inform TRS of
any recent or upcoming changes to your permanent
address (or other contact information). As an
alternative, you may file a paper “Member’s Change
of Address Form” (code DM13). If you are a
beneficiary receiving payments from TRS, please file
a “Beneficiary’s Change of Address Form” (code DM14).
If your name and/or address on your retirement
check stub is incorrect, please contact TRS’ Member
Services Center. If you change your name, please
file a “Retiree’s Change of Name Form” (code RP1)
with TRS.
Beneficiaries
The information in this brochure also applies to beneficiaries
receiving payments from TRS via paper checks.
Code 9.5
This publication should not be solely relied upon, as it is based on currently available information that is subject to change.
TRS suggests that you consult with an attorney and/or a tax advisor if you have any specific legal or tax questions concerning
this information. In all cases, the specific provisions of the governing laws, rules, and regulations prevail.
Teachers’ Retirement System of the City of New York
55 Water Street, New York, NY 10041
www.trsnyc.org • 1 (888) 8-NYC-TRS
For your convenience, TRS forms and publications are available on our website.
If you require additional assistance, please contact our Member Services Center at 1 (888) 8-NYC-TRS.
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