As members of the UFT, you are entitled to a benefit that is becoming as rare as it is important — a traditional defined-benefit pension plan, the gold standard of retirement plans, which guarantees a lifetime annuity of regular payments based on your years of service, your salary and your age.

Many of us who retire at age 62 can expect to live longer than our forefathers. But to be safe, it's important to prepare by having family discussions about what to do in the event of a debilitating illness or death. Here is a list of topics to discuss and the legal documents to have.

Whether you are a new member, in mid-career or close to retirement, there are steps you can take to learn about your pension benefits and stay on track as you progress down the road to a financially secure retirement. 

You possess a valuable financial asset from participating in a defined-benefit pension system and saving money in a tax-deferred annuity. That’s why it’s important to designate beneficiaries, keep your beneficiary designations current after life-changing events and make sure the latest contact information for your beneficiaries is on file with your pension system. 

If you were a public employee who worked for New York City or New York State before joining the Teachers’ Retirement System or the Board of Education Retirement System, you may be able to purchase credit for that prior service and increase your Total Service Credit — a key factor in determining your retirement eligibility and the amount of your retirement benefit.

The TRS website, was built to enable members to manage their accounts on their own schedules, and TRS routinely adds features. Members must register on the site if they do not already have a username and a password.