Secure Your Future
Your pension options
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.
History of the UFT pension plan
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.
Tax-deferred annuity can boost retirement income
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.
It’s a good time to review your pension
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.
Retirement fund loans
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.
Planning for retirement
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.