One of the many benefits provided by the Teachers’ Retirement System (TRS) and the Board of Education Retirement System (BERS) is the ability to borrow against your Qualified Pension Plan and your Tax-Deferred Annuity (TDA) savings.

UFT members who are currently enrolled in the Board of Education Retirement System have the option to transfer into the Teachers’ Retirement System, under a new state law signed by the governor.

The IRS has announced how much employees can contribute to their tax-deferred annuity account in the 2025 calendar year.

The UFT Pension Department offers an array of services to inform members of their retirement benefits and help them prepare for retirement.


The Tax-Deferred Annuity program is a simple and powerful way to save additional money for your retirement. Your TDA account is funded exclusively through your own contributions.


When you retire, you have three choices for handling your money in your Tax-Deferred Annuity: 1) Defer; 2) Convert your TDA into a monthly annuity; or 3) Withdraw all the funds. Most TRS and BERS members elect TDA deferral status.

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.

As UFT members employed by the city Department of Education, it is important to understand the crucial role pension plans play in attracting and retaining talented educators and other school staff and ensuring financial security in retirement.

A key factor in calculating your retirement allowance under the Qualified Pension Plan (QPP) is your Total Service Credit. It helps to determine whether you’re eligible to retire and the amount you’ll receive when you do.

The UFT and the DOE reached an agreement in spring of 2025 to improve transparency and fairness in the school transfer process for occupational and physical therapists.