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How many months do I have to repay a loan?
FAQ: All TDA loans, and QPP loans for Tier III, IV, and VI members, must be repaid within five years.
Is insurance provided on a loan?
FAQs: Yes. For all TDA loans and for QPP loans issued to Tier III, IV, and VI members, full insurance coverage begins 30 days after a loan is issued; insurance premiums are included in regular loan payment amounts.
May I change the amount that I am currently repaying toward my loan?
FAQs: If you are an in-service Tier III, IV, or VI member, you may submit a partial lump-sum payment on a QPP and/or TDA loan and thus reduce the amount of your regular loan payments.
What happens if I have an outstanding loan balance when I retire?
FAQs: When you retire, any outstanding QPP or TDA loan balance would be deducted from your funds in the corresponding program, reducing the amount available for your retirement.
Can a beneficiary roll over a death benefit to another account?
FAQs: 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.
D8) If I have more than one open loan, can I request to defer payments on all loans?
D8) If I have more than one open loan, can I request to defer payments on all loans?
Tiers III/IV Summary Plan Description Update
Guide
Tier VI Summary Plan Description Update
Guide
Cancellation Request Form (code MI5)
form
boardMeetingAgenda091924
agenda