Newer Teachers Set Their Sights on Retirement

November 24th, 2006

The MTA office was the scene on October 23rd when 32 new or relatively new teachers attended a workshop focused on retirement. Even though many of those attending have 25 to 30 years before becoming eligible to retire, the teachers learned quite a bit about what they can do now to enhance their pension.

Presenter Sheila Salenger, a teacher-member of the TRS Board of Directors, spent a great deal of time explaining how many of the teachers could secure additional service credit for previous non-credited public employment within New York. In addition, there was discussion regarding in-service death benefits, designation of beneficiaries, change of name and address and the story behind the 3% contributions. As she always does when giving workshops in Middletown, Sheila mentioned the importance of participating in a 403(b) to supplement your pension and the need to make annual contributions to Vote/Cope to help secure improvements in our defined benefit pension plan.

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