As a member of TRS or BERS, you have options for the distribution of your retirement allowance under the Qualified Pension Plan. As with other major financial decisions, the choice depends on your situation and your finances at retirement.

New pension plan tiers come into existence when the state Legislature enacts new laws that change benefits, contribution rates and service requirements. But a pension tier is never set in amber. Over the past 40 years, legislative amendments to each pension tier narrate a tale of continuous advocacy by the UFT, NYSUT and other public employee unions.



If you are a member of TRS or BERS, you have a voluntary, supplemental savings plan in addition to your define benefit pension. This savings plan with low fees allows you to build personal savings on a tax-deferred basis. 


The start of a new school year is a good opportunity to review the basics of membership in the Teachers’ Retirement System or the Board of Education Retirement System.