What Retirement Benefits Do NYC Teachers Get?

Retired New York City teachers receive an allowance through the Qualified Pension Plan provided by the Teacher's Retirement Plan of New York City, or TRSNYC. They can also receive loans, tax-deferred annuities and disability benefits from TRSNYC upon retirement.

TRSNYC is the retirement system for teachers in New York City. Elsewhere in New York State, teachers are covered by NYSTRS, a completely different system; NYSTRS specifically excludes New York City from coverage.

The bulk of the benefits doled out by TRSNYC are provided by the QPP, or Qualified Pension Plan. The Plan provides an allowance to eligible teachers upon retirement. Retired teachers may receive loans through their QPP, and their families may receive death benefits from the same plan.

In addition, TRSNYC also offers a Tax-Deferred Annuity, or TDA, Program. Through the TDA Program, teachers can build savings during retirement, get disability coverage, or acquire additional death benefits. Loans are also available through the TDA Program. Loans from either plan can be up to $50,000, depending on the member's funds and any outstanding balances they may have.

After retiring, members in TRSNYC may choose to use some of their allowance to pay into their death benefits for one or more beneficiaries. This is paid out of either their QPP or TDA Program, if available.