Difference between TimerTask and Executors.newScheduledThreadPool(1)

I need to schedule some work to be done in the future. I can do it in 2 ways:

1. Create a TimerTask and execute timer.schedule(...);

2. Use Executors.newScheduledThreadPool(1):

   ScheduledExecutorService scheduler = Executors.newScheduledThreadPool(1);
   ScheduledFuture <?> scheduleHandle = scheduler.schedule(pushExternalRunnable,  
           runScheduleDate.getTime() - now.getTime(), TimeUnit.MILLISECONDS);
   

What is the difference between these 2 ways of scheduling the work in the future?