An organization that is specifically set up for teachers to help with or manage retirement planning. Because there are individual teacher retirement systems set up for each state, there are differences in what they each offer. For the most part, the organization helps arrange retirement benefits for its member and their beneficiaries.
As part of the retirement program, members make regular contributions to their retirement accounts. The funds that are contributed are then invested and managed.
The teacher retirement system also offers disability and death benefits to its members and ensures the responsible distribution of the benefits.