Tags Group
Boost retirement with TDA
The Tax-Deferred Annuity (TDA) program is an excellent way for eligible UFT members to save extra money that will allow them to fully enjoy retirement. They can defer paying federal income taxes on their TDA, which lowers income taxes during their...
What are the eligibility requirements for taking a TDA loan?
You may be eligible for a TDA loan if you have participated in the TDA Program for at least one year; you are an in-service member, or you are on a leave of absence, or you have TDA Deferral status; you are not in default on an existing TDA loan. You...
What are the investment options for my Tax-Deferred Annuity (TDA)?
The TRS Passport Funds provide six investment offerings: The Fixed Return Fund offers a guaranteed rate of return set by the New York State Legislature. The current 7 percent annual rate is guaranteed in accordance with applicable laws. The...
Do I need to re-enroll in the TDA Program each year?
No. Your contributions automatically continue into the next year. However, you may change your contribution rate on the Teachers' Retirement System website at www.trsnyc.org or by filing a hardcopy TDA Contribution Rate Change Form. BERS members may...
What is the Tax-Deferred Annuity (TDA) Program?
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...
How may I choose or change a beneficiary?
New members receive a “Designation of QPP (Qualified Pension Plan) Beneficiary Form” with their TDA enrollment application and should file both forms together. Participants in the Tax Deferred Annuity Program should designate a beneficiary for their...
Why should I choose a beneficiary?
It is very important to choose a beneficiary or beneficiaries so you can be sure that if you die while you are still working for the New York City public schools the person(s) you choose receives your death benefit, instead of leaving it up to the...
What are the benefits of being a member of the retirement system?
Being in the retirement system gives you the security of knowing that if you complete the minimum requirements you will receive a monthly pension allowance for the rest of your life after you retire. If you also enroll in the Tax-Deferred Annuity...