Frequently Asked Questions

Posted Aug 18, 2010 | Category: Tax-Deferred Annuity | Rating:
4

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...

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Posted Aug 18, 2010 | Category: Tax-Deferred Annuity | Rating:
4.4

First, your contributions are deducted from your paycheck before taxes are taken out; as a result, your current taxes are lower. (For New York residents, this includes federal, state and local taxes. Please check with your accountant about state taxes if you are not a resident of New York State.) Furthermore, taxes are deferred on both your contributions and your investment return; therefore, more of your money remains invested, and your money grows faster than it would in a comparable...

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Posted Aug 18, 2010 | Category: Tax-Deferred Annuity | Rating:
3.8

If you have a username and password on the TRS website at www.trsnyc.org, you can enroll in the TDA Program online at any time. You may also file a paper TDA Enrollment Form, available by calling TRS at 888-8NYCTRS. When you enroll in the TDA Program, you should also file a Designation of TDA Beneficiary Form, which is available on the TRS website, by calling TRS, or by calling the UFT Pension Department at 212-598-6866. If you are a...

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Posted Aug 18, 2010 | Category: Tax-Deferred Annuity | Rating:
3

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 call 929-305-3800.

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