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.

One of the many benefits provided by the Teachers’ Retirement System and the Board of Education Retirement System the ability to borrow against your Qualified Pension Plan and Tax-Deferred Annuity accumulations.

The most common retirement date by far for UFT members is July 1 because it coincides with the end of the school year. If you’re planning a July 1 retirement, you should have already begun to prepare. Fortunately, the UFT has done much of the heavy lifting for members by developing tried-and-true steps you should take. 

As UFT members employed by the city Department of Education, it is important to understand the crucial role pension plans play in attracting and retaining talented educators and other school staff and ensuring financial security in retirement.

A key factor in calculating your retirement allowance under the Qualified Pension Plan (QPP) is your Total Service Credit. It helps to determine whether you’re eligible to retire and the amount you’ll receive when you do.