Estimate a pension from the NYC Teachers' Retirement System (TRS) or the Board of Education Retirement System (BERS): final average salary under two counting methods, the monthly check by retirement date, outstanding loans, a loan taken at retirement, TDA withdrawals, CAR day payout and payment options. The figures below are a sample member. Replace them with your own.
Not sure which system or tier you are in? It is on your Annual Benefits Statement, along with your service credit. Tier depends mostly on when you joined: Tier I before July 1973, Tier II July 1973 to July 1976, Tier IV July 1976 to March 2012, Tier VI April 2012 or later. The planner adds one year of credit per year of paid service after that date.
One row per pay rate, from your salary history. The last row can run past your retirement dates; pay after the retirement date is ignored.
| Start | End | Annual rate |
|---|
Per session and other pensionable earnings, by school year (July 1 to June 30). Spread evenly across the year.
| School year starting July | Amount |
|---|
The ASAF or ASF balance is on your Annual Benefits Statement; it is turned into a small extra annuity on top of the pension. Copy the rate from your system's estimate if you have one. A loan still owed, or a new loan taken at retirement, comes out of your QPP account and lowers the monthly check for life. TRS limits a loan taken at retirement to 75% of the QPP balance, less any loan still owed.
A rough net figure. NY State and City do not tax these pensions; federal tax depends on your whole household. Ask an accountant for your real rate.
Each option pays a share of the Maximum. The share depends on your age and your beneficiary's age, so copy the percentages from your own TRS estimate. The defaults come from one real estimate and are only a starting point.
| Option | % of Maximum | Beneficiary gets |
|---|
Most tiers use your best three consecutive years. Year blocks counts 12 month years back from the retirement date and picks the best run of three. Any 36 months lets the window start on any day. Ask TRS which one they used on your estimate; the truth is usually the first.
This is an estimate built from the published plan rules, not a TRS benefit calculation. Confirm every figure with your system before filing: TRS at 1 (888) 869 2877, BERS at (929) 305 3800.