My husband and I had our wills drawn up at Will Day on December 6th. Are there plans for another Will Day so that we can meet with the attorneys and get them signed?  There are plans to conduct a second Will Day in May.  However, you should receive your wills in a few weeks and you can get them signed prior to the next Will Day by contacting one of the lawyers that will be listed on the memo attached to your wills.

I need to change my beneficiary with TRS.  How do I go about doing this?  You can download a new beneficiary form through the TRS website (NYSTRS.org).  Keep in mind that you must have your signature notarized and that the completed form should be mailed to TRS.

This is my 11th year in the district but my memorandum still says I am on step 10? Why doesn’t it say step 11?  That’s because our salary schedule only has 10 steps. Once reaching step 10 your future memorandums will remain at step 10. Additional salary is earned through the longevities which are earned at the beginning of years 13, 16, 19, 22, 25 and 28.

I am Tier 3, age 57 with 28 years of service.  If I retire in June, what difference would there be in my pension if the 55/25 legislation was enacted?  The difference is dramatic.  With 55/25 legislation you would receive 56% of your FAS.  Without 55/25 legislation your maximum pension would only be 44.2% of your FAS.  Currently, Tiers 2, 3 & 4 members are subject to penalties if they retire prior to age 62 with less than 30 years of service.

Any questions regarding retirement, salary, or the Benefit Fund, may be e-mailed to: questions@middletownteachers.org. All questions will receive a reply; some may appear in future newsletters.