Roth withdrawals are considered “qualified” if you are at least 59 ½ at the time of distribution, AND your Roth account has been open for at least five years. The example below shows how to determine this date.

Roth withdrawals are considered “qualified” if you are at least 59 ½ at the time of distribution, AND your Roth account has been open for at least five years. The example below shows how to determine this date.

Yes. If you have officially resigned and have filed the Application for Withdrawal of QPP Accumulations (code RW41), you may submit a written request for an estimate of your account balance. However, this request may delay the actual processing of your withdrawal application.

An excess withdrawal reduces your Annuity Savings Fund balance, which results in a smaller retirement allowance. Therefore, leaving excess funds in your account would result in a relatively larger retirement allowance.

For all withdrawals, except hardship withdrawals based on domestic abuse, you can request any amount up to your TDA balance, minus any taxes applied to your withdrawal; the total amount available for withdrawal is noted on the first screen in the application.

For hardship withdrawals based on domestic abuse, the Internal Revenue Service has established a lifetime limit that applies across TRS’ TDA and Roth accounts. The current limit is $10,000.

TRS issues a separate 1099-R form for each of the following types of distributions:

• Taxable excess withdrawals, including those taken at retirement;
• Defaulted loans and taxable loans taken at retirement;
• Advance payments from the Qualified Pension Plan (QPP);
• Retirement allowance payments from the QPP;
• Annuity payments from the Tax-Deferred Annuity (TDA) Program;
• TDA and QPP Direct Withdrawals and Direct Rollovers;
• TDA Required Minimum Distributions (RMDs);
• Death benefit payments;
• Lump-sum disability payments;
• Withdrawals of funds upon separation from service; and
• Refunds of erroneous contributions.

Generally, TRS issues a separate 1099-INT form for any interest payments associated with a distribution listed above. However, the full amount of any Direct Rollover is reported on a 1099-R form, including any portion of the Direct Rollover that is attributable to interest.

Generally, TRS issues a separate 1099-INT form for any interest payments associated with a distribution listed above. However, the full amount of any Direct Rollover is reported on a 1099-R form, including any portion of the Direct Rollover that is attributable to interest.

The IRS requires that TRS withhold 20% of the taxable portion of any lump-sum death benefit paid to a surviving spouse, unless the spouse instructs TRS to directly roll over the amount into an IRA or a Section 401 Plan. In addition, the IRS requires that TRS withhold 10% of any death benefit paid to a non-spouse beneficiary, unless that beneficiary elects to have a percentage greater than 10% withheld. Any withheld amount will be sent to the IRS as credit toward the beneficiary's federal taxes for the year of distribution.

For a list of forms on taxes and death benefit payments, please see the Withdrawals/Distribution category in the Forms–Beneficiaries section.

Spouses of deceased members are permitted to roll over the taxable portion of a Qualified Pension Plan (QPP) and/or Tax-Deferred Annuity (TDA) Program death benefit to an eligible Individual Retirement Arrangement (IRA) or other successor program. Non-spouse beneficiaries may roll over the taxable portion of a QPP and/or TDA death benefit to an Inherited IRA or other successor program.

For a list of forms on rolling over a death benefit, please see the Withdrawals/Distribution category in the Forms–Beneficiaries section.

For more information, please see the FAQs in this section.