If you make a Direct Withdrawal, TRS sends the withdrawn amount directly to you. If you make a Direct Rollover, TRS sends the withdrawn amount directly to the IRS-qualified Individual Retirement Arrangement (IRA) or other eligible successor program that you elect. Unlike Direct Withdrawals, Direct Rollovers are not subject to current taxes and penalties. If you make a Direct Transfer, TRS sends the withdrawn amount directly to the IRS-qualified Section 403(b) Program that you elect. However, as a result of new IRS regulations governing Section 403(b) Programs, TRS, on the advice of outside tax counsel, has suspended all processing of Direct Transfers pending further clarification from the IRS.