Q-P-P stands for the Qualified Pension Plan. This defined-benefit plan, administered under Section 401(a) of the Internal Revenue Code, enables TRS members to receive a monthly retirement allowance upon meeting certain eligibility requirements.

Q-P-P stands for the Qualified Pension Plan. This defined-benefit plan, administered under Section 401(a) of the Internal Revenue Code, enables TRS members to receive a monthly retirement allowance upon meeting certain eligibility requirements.

In general, QPP funds automatically accrue 5% interest annually.

For Tier I and II members who are not yet retired, earnings on QPP funds depend on how the funds are invested in TRS' Passport Funds. The return on QPP funds in the Fixed Return Fund is currently guaranteed at 8.25%; the returns on QPP funds in the variable-return Passport Funds fluctuate monthly. Your most recent Quarterly Account Statement (QAS) indicates your investment elections.

Tier I and II in-service members and retirees may change their QPP investment elections four times a year. Investment election changes take place on the following conversion dates: January 1, April 1, July 1, and October 1.

Tier I and II in-service members may change their investment elections for future QPP contributions and/or past QPP accumulations by filing a QPP Investment Election Change Form (code MA7) at any time; their elections would take effect on the next conversion date that occurs at least 30 days after TRS receives their form.

Tier I and II retirees may change their investment elections for their QPP retirement allowance by filing a Retiree's QPP Investment Election Change Form (code RP8) at any time; their elections would take effect on the next conversion date that occurs at least 60 days after TRS receives their form.

Please note that Tier III, IV, and VI members may not choose how their QPP funds are invested; their contributions automatically accrue 5% interest annually.

Yes. However, your loan from one plan may affect the maximum amount that you may borrow from the other plan.

TRS determines a Certified Rate of Contribution for you based on factors such as your age and credited prior service. If you are a Tier II member participating in the Age 55 Retirement Program, you are also required to contribute 1.85% of your gross pensionable compensation to the QPP, generally until you have attained 25 years of Total Service Credit.

If you are a Tier I or Tier II member, you may be eligible to change your contribution rate by filing a QPP Contributions Change Application (code IP1). If you are a Tier I or II member with at least 20 years of qualifying service, you may also be eligible to stop contributing entirely by filing a Zero Rate Application (code RW73). For more information, please see the FAQs on Zero Rates.

If you are a Tier III, IV, or VI member, you may not change your QPP contribution rate.

The QPP contribution rate for a Tier VI member is subject to change each year as of January 1, the start of the new "plan year." TRS uses salary/wage information provided by your employer(s) when we determine your contribution rate. Therefore, if you are a Tier VI member who disagrees with your QPP contribution rate, your first step should be to contact your employer(s) to ensure all of your salary/wage information is correct. TRS would correct your contribution rate, if necessary, only based on updated information from your employer(s).

Similar rules restrict the maximum available loan amounts under the QPP and TDA loan programs. Please note that your maximum under one loan program would be reduced if you took a loan under the other loan program.

You may apply for a new QPP loan approximately four months after you receive your new TRS membership number.