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.

Once you withdraw your funds from TRS, your current membership will cease. If, at a later date, you are reappointed to a TRS-eligible position, you would be treated as a new member and placed in the tier for new members.

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

You may be eligible for a QPP loan under the following conditions: a) if you are either an in-service member or on a leave of absence, and b) if you are not in default on an existing QPP loan. In addition, if you are a Tier I or II member, you must have at least three years of TRS membership service; if you are a Tier III, IV, or VI member, you must have at least one year of TRS credited service. You may learn whether you are currently eligible to take a loan by logging in to the secure section of our website.

Yes. You may transfer the taxable portion of your withdrawal to another eligible Section 401 Plan or an IRA account. To do so, you must file a QPP Direct Rollover Election Form (code RW29) in conjunction with your withdrawal application. Any amount that is distributed through a Direct Rollover is not taxable until it is received as income, and you would not be subject to the 20% withholding tax that applies to direct withdrawals. In addition, you would not have to pay the additional 10% tax that applies to some direct withdrawals.

DOE/Charter School employees whose TRS membership date is after February 27, 2008: As a participant in the Age 55 Retirement Program, you are initially required to contribute 4.85% of your gross pensionable compensation to the QPP.

If your membership date is after February 27, 2008 and before December 11, 2009, your QPP contributions would be reduced to 1.85% once you have attained 10 years of membership or credited service, and would continue until you have attained 27 years of Total Service Credit. If your membership date is after December 10, 2009, your QPP contributions would be reduced to 1.85% once you have attained 27 years of Total Service Credit, and would continue until you retire.

CUNY employees: You are required to contribute 3% of your gross pensionable compensation to the QPP until you have attained 10 years of membership or credited service.

DOE/Charter School employees who are participating in the Age 55 Retirement Program: If your membership date is before February 28, 2008, you are required to contribute 4.85% of your gross pensionable compensation to the QPP until you have attained 10 years of membership or credited service. Your QPP contributions would then be reduced to 1.85% and would generally continue until you have attained 25 years of Total Service Credit.

DOE/Charter School employees who did not "opt in" to the Age 55 Retirement Program: You are required to contribute 3% of your gross pensionable compensation to the QPP until you have attained 10 years of membership or credited service.

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.

If a Tier I member had at least 10 years of Total Service Credit at the time of death, but was no longer in active service and was not yet eligible for a service retirement under the Qualified Pension Plan (QPP), the death benefit payable would equal the following: one half the amount of the ordinary death benefit that would have been payable had the member died on the last day that service was performed. If the member's TRS membership had ceased during the separation from service, interest on his/her QPP account balances stopped accruing interest as of the date the membership ceased.

If a Tier II, III, IV, or VI member had at least 10 years of Total Service Credit at the time of death, but was no longer in active service and was not yet eligible for a service retirement under the Qualified Pension Plan (QPP), the amount of Death Benefit #1 or #2 would equal one half of the amount that would have been payable had the member died on the last day that service was performed. If the member's TRS membership had ceased during the separation from service, interest on his/her QPP account balances stopped accruing interest as of that date.

Members can file for investment election changes at any time, and the changes will take effect on the next available quarterly start date: January 1, April 1, July 1, or October 1.

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QPP Investment Election Changes (except retirees)

TDA Investment Election Changes (except annuitants)

TRS must receive these requests at least 30 days in advance. You can log in and make TDA changes online, or you can file the paper TDA Investment Election Change Form (code TD45). For QPP changes, file the paper QPP Investment Election Change Form (code MA7).