Getting Ready to Retire

Mahopac Teachers Association Benefit Fund 
P.O. Box # 656
Baldwin Place, NY 10505 
GETTING READY TO RETIRE & THE FUTURE OF YOUR MTABF BENEFITS:

Once you know that you are going to retire & have worked out the details with the Mahopac Central School District, you need to inform the MTABF of this decision. Before you actually retire, there are a lot of things to do and one of the most important is to consider what type of benefit plan suits your needs.

Each year the MTABF hosts an Informational Retirement session for all those members who will be retiring before the start of the next school year. In the spring, an invitation is sent to all pending retirees who have informed the MTABF of their decision. This session provides information & options to retirees about:
  1. Dental
  2. Vision
  3. Life Insurance
  4. Legal Benefits
  5. Financial Choices

The trustees of the MTABF are on hand to help you fill out forms and answer your questions. The MTABF urges you to attend this meeting; educate yourself and start planning for your future.

INFORMATION ABOUT MTABF RETIREMENT PLANS:

Retired members are able to keep all of the benefits that they have had as an active member. However, since retired members are no longer employed by the district, there is no money, as negotiated by the union that the retired member belonged to as active member to pay for benefits. The cost of the benefits is therefore paid for by the retired members. There are five different plans available to choose from. A better understanding of the 5 plans can be gained by downloading the MTA Sample Retirement Options, CSEA / UPSEU Sample Retirement Options or Managerial Confidential Sample Retirement Options.

Additionally:
Dental
  • Retired member pays into.
  • All other dental provisions apply.
  • See web site for more information.
  • Spouse/Dependent or Family Plans are available for purchase at the same cost an active member would pay.
Vision
  • Choose between Davis Vision or Raymond Opticians
  • Retired member pays into.
  • All other vision provisions apply.
  • See web site for more information.
  • RAYMOND OPTICIANSis now offering the same vision rates for the families of all enrolled retired MTABF members. Raymond will use the same pricing plan that is offered to the MTABF. According to Raymond Opticians, these rates reflect a 40% - 50% discount off regularly priced frames & lenses. In addition, each retiree & any family member using this program will continue to receive a free spare pair of single vision glasses or sunglasses every year. To learn more about this program go into any Raymond Optician Branch & speak to a Raymond employee.

Life Insurance
  • Retired member pays into
  • Policy decreases w/ age
  • See MTABF web site for more information.

Legal Benefits
  • Retired member pays into
  • See MTABF web site for more information.

Financial Choices
  • Free financial counseling to all retired members
  • See MTABF web site for more information.

MTABF Web Site
  • Available 24 hours a day, 365 days a year
  • Updated continuously
  • Allows retirees to sign up for emailed updates

N.Y.S.  TEACHERS RETIREMENT SYSTEM

N.Y.S. TEACHERS RETIREMENT
Corporate Woods Drive
Albany, NY 12211
1- 800-348-7298
Voice Info Line: 1-800-782-0289
Nurses, CSEA 1-518-474-7736

The New York State Teachers' Retirement System (N.Y.S.T.R.S.) provides retirement, disability and death benefits to eligible New York State public school teachers and administrators. Three important things to know:
  • First, after ten years of service, the 3% contribution to N.Y.S.T.R.S. stops. If you began working in September of 1993, you should no longer be contributing the 3%. Please examine your paycheck and make sure the contribution has stopped. If there are any concerns you can make contact with your union rep. &/ or call the district office.
  • Second, if you are considering retiring in the next few years it is wise to consider attending a retirement seminar now. On the N.Y.S.T.R.S. Home Page you will see dates for the retirement seminars as well as many other important pieces of information concerning your career and financial planning. It is well worth a few minutes of your time.
  • Finally, when you change your name, you must notify the N.Y.S.T.R.S. of this change. If your beneficiaries change it is also your responsibility to let N.Y.S.T.R.S. know. You can obtain the necessary forms right on the N.Y.S.T.R.S. Web Site.

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