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Benefits Summary

Below is a summary of the benefits of membership in TRS:

Service Retirement Allowances

TRS' Qualified Pension Plan (QPP) is a retirement plan administered under Section 401(a) of the Internal Revenue Code. Our members' employers contribute the amount required to meet TRS' pension benefit obligation. And, in order to help fund their retirement allowances, members must also contribute to their QPP account. The amount of these contributions depends on a member's tier and other membership factors. Members become eligible to receive a service retirement allowance upon meeting requirements for service credit and age.

TDA Participation

In addition to earning a retirement allowance through the Qualified Pension Plan, members may build their personal savings through participation in TRS' Tax-Deferred Annuity (TDA) Program.

The TDA Program, established under Section 403(b) of the Internal Revenue Code, is a supplemental retirement plan. Participation lowers current taxable income, and taxes are deferred on contributions and accumulated earnings.


Loans are available to members under both the Qualified Pension Plan and the Tax-Deferred Annuity Program.

Members may borrow as much as $50,000; the maximum amount depends on the amount of the member's TRS funds and the amount of any balances outstanding on TRS loans and other employer-sponsored loan programs (such as the New York City Deferred Compensation Plan).

Disability Coverage

Disability retirement coverage is available to in-service members and to members on an official leave of absence. To be eligible for an ordinary disability retirement, members must meet certain service requirements. These requirements are waived for members whose disability meets the criteria for an accident disability retirement.

Death Benefits

Members who have at least one year of service since last joining TRS are eligible for death benefit coverage under the Qualified Pension Plan. Separate death benefit coverage is provided to participants in the Tax-Deferred Annuity Program.

At retirement, members may elect a payment option for their retirement allowance that will provide a benefit for one or more beneficiaries. Post-retirement death benefits are also available for TDA Program accounts.