In addition to the defined benefit Qualified Pension Plan, the Teachers’ Retirement System and the Board of Education Retirement System offer a voluntary program, the Tax-Deferred Annuity (TDA) that allows you to save additional money for your retirement. Taxes are deferred on your contributions to the TDA and on any investment earnings from those contributions until you withdraw the money as income. How much your contributions earn depends on your investment choices. Upon retiring, you may receive your TDA funds in various ways, including as an annuity that is separate from and in addition to your pension allowance.