The New York City Board
of Education Retirement System (BERS) was founded on August 1, 1921 to provide retirement
benefits for civil service employees permanently employed by the City and School District
of New York other than those who may retire under the provisions of other retirement laws.
BERS has since expanded to include other employees, such as provisional and part-time
employees of the Department of Education (DOE) and other covered employers
BERS is one of the largest multi-employer, multi-tiered retirement systems in the United
States. Our members are employed in such agencies as the Department of Education, the
School Construction Authority, the Police Department and the Transit Authority. BERS
currently provides retirement benefits to members in five (5) tiers. The Retirement
System benefits exist to provide financial security for our members and their beneficiaries
both during and after employment ends.
Beyond retirement benefits, BERS also offers a tax-deferred annuity program established
under the guideline of section 403(b) of the Internal Revenue Code. This program gives
members the opportunity to invest additional savings on a pre-tax basis.