Members receive a Quarterly Account Statement (QAS) for each account they have with TRS. Starting in 2026, each account is reported on a separate statement.

All non-retired members will receive a QPP Account Summary each quarter, reporting activity in their pension account, the Qualified Pension Plan (QPP). The TDA Account Summary is provided quarterly to members who have a traditional TDA account in TRS’ 403(b) plan, the Tax-Deferred Annuity (TDA) Program. Participants in the TDA Program’s Roth option will receive a Roth Account Summary each quarter.

New Quarterly Account Statements are normally posted in the secure section of TRS’ website about six weeks after the end of each quarter.

Members receive a Quarterly Account Statement (QAS) for each account they have with TRS. Starting in 2026, each account is reported on a separate statement.

All non-retired members will receive a QPP Account Summary each quarter, reporting activity in their pension account, the Qualified Pension Plan (QPP). The TDA Account Summary is provided quarterly to members who have a traditional TDA account in TRS’ 403(b) plan, the Tax-Deferred Annuity (TDA) Program. Participants in the TDA Program’s Roth option will receive a Roth Account Summary each quarter.

New Quarterly Account Statements are normally posted in the secure section of TRS’ website about six weeks after the end of each quarter.

The following information is intended as a summary. Please consult a trusted tax advisor for more information.

The IRS requires TRS to withhold a minimum of 20% of the taxable portion of any withdrawal that you do not directly roll over to an eligible successor program; you can elect a higher percentage.

The taxable portion of any withdrawn funds is taxable upon receipt and will be reported to the IRS in January following the calendar year in which it is distributed. The amount withheld would be forwarded to the IRS and credited toward your taxes for the year of distribution. (Within 60 days of the distribution date, you may roll over any taxable amount you receive, or roll over the entire amount of the distribution by replacing the amount withheld by TRS with money from other sources.)

The IRS may impose a 10% early distribution tax on taxable funds you withdraw before reaching age 59½.

For TDA withdrawals, distributions generally are federally taxable and may be subject to state and local taxes; please check with your tax advisor. If a TDA loan is deemed a distribution in the same tax year in which you receive a TDA direct withdrawal, the IRS would require TRS to withhold 20% of the taxable portion of the deemed distribution from the TDA withdrawal; this withholding would apply if your loan balance is deemed a distribution before your TDA withdrawal is processed, and would be in addition to the 20% withholding required separately for the TDA direct withdrawal. The total amount withheld would be forwarded to the IRS and credited toward your taxes for the current year.

There are two types of Roth withdrawals and the taxability for each is different. See the FAQs about Qualified Roth withdrawals and Non-qualified Roth withdrawals for more information.

The monthly unit values used to value in dollars) any investments in the variable-return Passport Funds depend on your membership status when filing for your withdrawal, as explained below:

• In most cases, the unit values used would be the unit values in effect for the month after TRS receipt of your withdrawal request.
• If you are filing to withdraw your TDA or Roth funds in conjunction with your separation from service, but after the withdrawal of your Qualified Pension Plan (QPP) accumulations, the unit values used generally would be the unit values in effect for the month after TRS receipt of your Application for Withdrawal of QPP Accumulations (code RW41) or TRS Membership Transfer Form (code RW39). However, if you are a non-vested member who filed to withdraw your QPP funds before the date you separated from service, the unit values used would be the unit values in effect for the month after your separation from service.
• If you are filing to withdraw your TDA or Roth funds after your TRS membership rights expired, the funds in these accounts stopped accruing interest and/or investment return on the date your membership rights expired (i.e., seven school years after your separation from service). The unit values used would be the unit values in effect for the month after that seven-year anniversary date.

The following information is intended as a summary. Please consult a trusted tax advisor for more information.

The IRS requires TRS to withhold a minimum of 20% of the taxable portion of any withdrawal that you do not directly roll over to an eligible successor program; you can elect a higher percentage.

The taxable portion of any withdrawn funds is taxable upon receipt and will be reported to the IRS in January following the calendar year in which it is distributed. The amount withheld would be forwarded to the IRS and credited toward your taxes for the year of distribution. (Within 60 days of the distribution date, you may roll over any taxable amount you receive, or roll over the entire amount of the distribution by replacing the amount withheld by TRS with money from other sources.)

The IRS may impose a 10% early distribution tax on taxable funds you withdraw before reaching age 59½.

For TDA withdrawals, distributions generally are federally taxable and may be subject to state and local taxes; please check with your tax advisor. If a TDA loan is deemed a distribution in the same tax year in which you receive a TDA direct withdrawal, the IRS would require TRS to withhold 20% of the taxable portion of the deemed distribution from the TDA withdrawal; this withholding would apply if your loan balance is deemed a distribution before your TDA withdrawal is processed, and would be in addition to the 20% withholding required separately for the TDA direct withdrawal. The total amount withheld would be forwarded to the IRS and credited toward your taxes for the current year.

There are two types of Roth withdrawals and the taxability for each is different. See the FAQs about Qualified Roth withdrawals and Non-qualified Roth withdrawals for more information.

The monthly unit values used to value (in dollars) any investments in the variable-return Passport Funds depend on your membership status when filing for your withdrawal, as explained below:

• In most cases, the unit values used would be the unit values in effect for the month after TRS’ receipt of your withdrawal request.
• If you are filing to withdraw your TDA Program funds in conjunction with your separation from service, but after the withdrawal of your Qualified Pension Plan (QPP) accumulations, the unit values used generally would be the unit values in effect for the month after TRS’ receipt of your Application for Withdrawal of QPP Accumulations (code RW41) or TRS Membership Transfer Form (code RW39). However, if you are a non-vested member who filed to withdraw your QPP funds before the date you separated from service, the unit values used would be the unit values in effect for the month after your separation from service.
• If you are filing to withdraw your TDA Program funds after your TRS membership rights expired, the funds in these accounts stopped accruing interest and/or investment return on the date your membership rights expired (i.e., seven school years after your separation from service). The unit values used would be the unit values in effect for the month after that seven-year anniversary date.

The following information is intended as a summary. Please consult a trusted tax advisor for more information.

The IRS requires TRS to withhold a minimum of 20% of the taxable portion of any withdrawal that you do not directly roll over to an eligible successor program; you can elect a higher percentage.

The taxable portion of any withdrawn funds is taxable upon receipt and will be reported to the IRS in January following the calendar year in which it is distributed. The amount withheld would be forwarded to the IRS and credited toward your taxes for the year of distribution. (Within 60 days of the distribution date, you may roll over any taxable amount you receive, or roll over the entire amount of the distribution by replacing the amount withheld by TRS with money from other sources.)

The IRS may impose a 10% early distribution tax on taxable funds you withdraw before reaching age 59½.

For TDA withdrawals, distributions generally are federally taxable and may be subject to state and local taxes; please check with your tax advisor. If a TDA loan is deemed a distribution in the same tax year in which you receive a TDA direct withdrawal, the IRS would require TRS to withhold 20% of the taxable portion of the deemed distribution from the TDA withdrawal; this withholding would apply if your loan balance is deemed a distribution before your TDA withdrawal is processed, and would be in addition to the 20% withholding required separately for the TDA direct withdrawal. The total amount withheld would be forwarded to the IRS and credited toward your taxes for the current year.

There are two types of Roth withdrawals and the taxability for each is different. See the FAQs about Qualified Roth withdrawals and Non-qualified Roth withdrawals for more information.