Health coverage eligibility begins on the date of initial full time appointment. 

PSC/CUNY Welfare Fund Benefits
PSC Welfare Fund provides the prescription drug plan, dental plan, vision care and hearing aid plan at no additional cost. 

Retirement Benefits
New York State law mandates participation in a retirement system for full-time members of the instructional staff. New members have 30 days from the effective date of their appointment to choose a retirement program, and the choice is irrevocable. If no choice is filed within 30 days, the law mandates that the member be assigned to the New York City Teachers’ Retirement System. Full-time instructional staff members may choose between the New York City Teachers’ Retirement System (TRS), and the Optional Retirement Program. Those who elect the optional retirement program may choose investment options through Teachers Insurance and Annuity Association – College Retirement Equities Fund (TIAA-CREF).


New York City Teachers’ Retirement System (TRS), a Defined Benefit Plan, which means since the law defines TRS benefits, the amount available to you at retirement is governed by formulas stated in the law, not by the condition of the stock market on the day you retire. Benefits are based on age, final average salary (FAS) and years of service credit. Interest - The amount that is in your TRS retirement account continues to accrue interest, regardless of whether contributions are being made. Vested Benefit - Vesting is the right to receive future retirement benefits upon completing the service requirements of the plan and tier. This means that your future retirement benefits are secure. TRS strongly urges you to ask representatives about your vesting and refund rights before leaving City service and to get instructions on how to properly file for this benefit. Retiree Health Insurance Benefits - When you start receiving a pension from TRS, you are also eligible for City-paid health insurance benefits. Health benefits are NOT offered or administered by TRS, contact the Human Resource Department for more information.

Retirement eligibility is based on years of service and age, which is determined by date of initial full time appointment. 

TIER	DATE OF APPOINTMENT	YEARS OF SERVICE	AGE
I	Prior to 7/1/73	Part A – 25 Part B – 15	Part A – 55 Part B – 55
II	7/1/73 to 7/26/76     reduced payment --	Part C  (a) 25 (b) 30 Part D (a)    5 (b)   5	Part C (a) 62  (b) 55 Part D (a)    62 (b)   55
III	7/26/76 to 8/31/83	10	62
IV	9/1/83 to 6/30/92	5*	55

Teachers Insurance and Annuity Association – College Retirement Equities Fund (TIAA-CREF), a Defined Contribution Plan: the benefits are based on the amounts contributed by the employer and the employee and the investment experience. Vesting begins after the completion of the first 366 days of continuous full time employment. Once vested, retroactive contributions from the date of initial full time appointment will be made. Vesting and participation will be immediate if an employee has a preexisting open TIAA-CREF Retirement Annuity (RA) contract. Retiree Health Insurance Benefits. Must meet the minimum retirement age and years of continuous services requirement before eligible to receive City health benefits even if collecting a retirement income.

TIER	DATE OF APPOINTMENT	Employer Contribution Rate	Employee Contribution Rate
I  II  III IV	Prior to 7/1/73 7/1/73 to 7/26/76 7/26/76 to 8/31/83 9/1/83 to 6/30/92	10.5 % for the first $16,500 earned per year, plus an amount equal to 13.5% of your salary earned in excess of  $16,500 per year	1.5%
V	After July 16, 1992	8% of your yearly salary for the first 7 years of employment. 10% of your yearly salary, thereafter	3%

Retirement Health Benefits Eligibility

TIER I & II 

Appointment on or before to July 30, 1976
Ø      Separated from CUNY service at age 55 or over with at least ten (10) years of pensionable, continuous, full-time CUNY service, or
Ø      Separated from CUNY service prior to age 55 with at least fifteen (15) years of pensionable, continuous, full-time CUNY service and attain the age of 55.

TIER III

Appointment between July 1, 1976 and August 31, 1985:
Ø      Separated from CUNY with at least fifteen (15) years of pensionable, continuous, full-time CUNY service and attain the age of 62, or
Ø      Separated from CUNY with at least (10) years of pensionable, continuous, full-time CUNY service and subsequent full-time employment in a college, university, or other institution of post-secondary education related to the duties performed while in active service at the University or to duties normally performed by the instructional staff at the University and attain the age of 62.

TIER IV & V

Appointment on or after September 1, 1985:
Ø      Separated from CUNY service at age 62 or over with at least fifteen (15) years of pensionable, continuous, full-time CUNY service, or
Ø      Separated from CUNY prior to age 62 with at least (15) years of pensionable, continuous, full-time CUNY service and subsequent full-time employment in a college, university, or other institution of post-secondary education related to the duties performed while in active service at the University or to duties normally performed by the instructional staff at the University and attain the age of 62.

Tax-Deferred Annuity (TDA)
A Tax-Deferred Annuity 403(b) may be purchased from TIAA/CREF - Supplemental Retirement Annuity Program, and Teachers’ Retirement Systems (must have membership in TRS pension) and the HRC. These Funding Vehicles are similar to IRA’s, allowing you to set aside pre-tax dollars that are subject to IRS limits. Those with 15+ years of service with CUNY may be eligible for catch-up contributions not to exceed a $15,000 lifetime maximum. You may also participate in the New York City 401(k) Deferred Compensation Plan, but the above 15 year catch-up is not available to 401(k) plan participants, and you may only in enroll in ONE 403(b) funding vehicle at a time for your tax deferred annuity program.

Disability Benefits 
If you are actively at work full-time, you are eligible for the PSC-CUNY Welfare Fund benefits for Group Life & Accidental Death and Dismemberment Insurance through The Standard Administrator for TIAA. To be eligible you must be actively-at-work on the date of enrollment eligibility.


TIME & LEAVE ACCURALS
HEO Series/CLT

Years of Service	Number of Days
1	15 days
2-11 and thereafter	15days + one additional day for each year of service to maximum of 25 days
Librarians (appointed on or after 1/1/88)  & Counselors (appointed on or after 9/1/88)
1		20 days
2-11		20 days + one additional day for each year of service to maximum of 30 days
Unscheduled (Floating) Holidays Leave and University Holidays
13 paid holidays (4) unscheduled
The maximum accrual of annual leave shall not exceed forty-five (45) working days as of August 31 of any year
Teaching & Non-teaching Sick Leave 20 days per year Cap 160 days

Tuition Remission 

Employee Category	Service req.	Course Type & Credit Limits	Summer Session
Instructional Staff	Undergraduate – 1 year Graduate - none	Undergraduate – no limit Graduate – 6 credits	NO