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.

You may withdraw your QPP funds in the following cases:

• You are a non-vested member in any tier;
• You are a vested Tier I or II member;
• You are a vested Tier III or IV member who has at least five, but less than ten, years of TRS membership service.

QPP funds available for withdrawal would include:

• For Tiers I and II members—Your Annuity Savings Fund (ASF) balance.
• For Tiers III, IV, and VI members—Your Member Contributions Accumulation Fund (MCAF) and your Annuity Savings Accumulation Fund (ASAF) balances.

If you are a Tier II, III, or IV member who participated in the Age 55 Retirement Program and you were laid off from your TRS-eligible position for reasons of economic hardship, you may also withdraw the balance in the employee portion of the Additional Member Contributions (AMCs) you made under this program (less any deficits in the employer portion of your AMCs). For all other members, AMCs are not refundable.

No partial withdrawals are allowed. To withdraw your funds, you must file an Application for Withdrawal of QPP Accumulations (code RW41). If you elect to directly roll over all or part of the taxable portion of your withdrawal to one or more eligible Individual Retirement Arrangements (IRAs) or other successor programs, you must attach a completed QPP Direct Rollover Election Form (code RW29) with your QPP withdrawal application. In all cases, the tax-free portion of your withdrawal will be paid directly to you.

If you withdraw your QPP funds and are a participant in TRS' Tax-Deferred Annuity (TDA) Program, you must also withdraw your TDA funds.

TRS makes payments through EFT. EFT is required for loans and withdrawals, and other one-time payments.

TRS recommends that you set up your EFT account before you want to apply for a loan or withdrawal. It generally takes at least 21 days to establish an EFT account, so payment of a loan or withdrawal may be delayed if an EFT account is not established in advance.

For retirees, monthly benefit payments (i.e., retirement allowance and, if applicable, annuity payments under the TDA Program) are also paid electronically.

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.