The taxable portion of any withdrawn QPP funds is taxable upon receipt and would be reported to the IRS. The IRS requires that TRS withhold 20% of any taxable amount you withdraw unless you instruct TRS to directly roll over the amount into an eligible IRA(s) or other successor program(s). An additional IRS-imposed 10% tax would apply unless the withdrawal is made: a) in conjunction with your separation from service during or after the year in which you attain age 55; or b) during or after the year you attain age 59½; or c) as a qualified hardship withdrawal; or d) in conjunction with your disability retirement; or e) by your beneficiary in conjunction with a death benefit payment.

If a Tier II, III, IV, or VI member dies while in service and is credited with at least one year of service since last joining TRS, the member's designated beneficiary can apply to receive ordinary death benefits under the Qualified Pension Plan (QPP). The death benefit would equal the balance in the member's Annuity Savings Fund (ASF) (for Tier II members) or Member Contributions Accumulations Fund (MCAF) and Annuity Savings Accumulation Fund (ASAF) (for Tier III, IV, and VI members), plus the amount of either Death Benefit #1 or Death Benefit #2.

As of October 1, 2000, beneficiaries of Tier II, III, and IV members receive the greater of either Death Benefit #1 or Death Benefit #2, even if the member had elected Death Benefit #1 coverage. Members who joined TRS after January 1, 2001 (including Tier VI members) are automatically enrolled in Death Benefit #2.

For most QPP loans and any TDA loan issued before October 5, 2024, full insurance coverage begins 30 days after a loan is issued; insurance premiums are included in regular loan payment amounts for loans. TDA loans issued on or after October 5, 2024 are not insured.

For QPP loans issued to Tier I and II members, partial insurance coverage begins 30 days after a loan is issued; this coverage gradually increases until 90 days after the loan is issued, when coverage reaches 100% of the loan balance, up to a $10,000 limit. Tier I and II members are not charged for the insurance on a QPP loan.

In all cases, Insurance on a loan is terminated if you default on your loan.

In general, the minimum QPP loan available is $250; however, for Tier III, IV, and VI members who do not have an outstanding QPP loan, the minimum QPP loan available is $1,000. The minimum TDA loan available is $1,000 for all members, except for those with an outstanding TDA loan balance; those members may request a minimum amount of $250 as long as the amount they request plus their current outstanding TDA loan balance totals at least $1,000.

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. For QPP loans issued to Tier I and II members, partial insurance coverage begins 30 days after a loan is issued; this coverage gradually increases until 90 days after the loan is issued, when coverage reaches 100% of the loan balance, up to a $10,000 limit. Tier I and II members are not charged for the insurance on a QPP loan. Insurance on a loan would be terminated if you default on your loan.

In general, the minimum QPP loan available is $250; however, for Tier III, IV, and VI members who do not have an outstanding QPP loan, the minimum QPP loan available is $1,000. The minimum TDA loan available is $1,000 for all members, except for those with an outstanding TDA loan balance; those members may request a minimum amount of $250 as long as the amount they request plus their current outstanding TDA loan balance totals at least $1,000.

A-S-F stands for your Annuity Savings Fund. This account contains a Tier I or II member's Qualified Pension Plan (QPP) contributions, and reflects investment results and/or interest and any withdrawals.

QPP retirement allowance and TDA annuity payments generally are federally taxable and may be subject to state and local taxes; please check with your tax advisor.

When you are logged in to your online claim, you will see what options are available to you. Types of distribution options are described below.

• Direct Payment: Some lump-sum payments must be received in a direct payment (e.g., a “fractional” payment, a Required Minimum Distribution, funds from the member’s Group Term Life Insurance). Other payments have distribution options noted below.
• Direct Rollover: Some lump-sum payments can be rolled over (e.g., QPP Death Benefit #2). Spouse beneficiaries can roll over all or part of their benefit to an eligible Individual Retirement Arrangement (IRA) or other eligible successor program; eligible successor programs are indicated in the online death benefit claim feature. Non-spouse beneficiaries may roll over all or part of their benefit only to an Inherited IRA or an Inherited Roth IRA.
• Annuitization: In certain circumstances, a beneficiary may annuitize their lump-sum benefit, as explained in the below FAQs.

If you are a Tier I or II member, you may be eligible to receive up to two QPP loans within a 12-month period. If you are a Tier III, IV, or VI member, you may be eligible to receive one QPP loan within a 12-month period. Eligible TDA participants may receive one TDA loan within a 12-month period.