Members of the Teachers’ Retirement System or the Board of Education Retirement System have a voluntary, supplemental savings plan, the Tax-Deferred Annuity, that can help ensure their retirement security.

The majority of UFT members participate in a defined-benefit pension, the gold standard of retirement plans. A defined-benefit pension guarantees a lifetime annuity — regular payments based on a formula. This formula takes into account your years of service, your salary and your age. With a defined-benefit pension, you don’t have to worry about the vagaries of the stock market. The amount of the pension benefit remains the same each month throughout your retirement.