Yes. You may do so by submitting a withdrawal request in the secure section of the TRS website.

TRS would issue your distribution of TDA Program funds as follows:

• For partial withdrawals of up to 95% of your TDA or Roth balance drawn only from your Fixed Return Fund: Generally within 15 days of TRS’ receipt of your withdrawal request.
• For all other withdrawals: Generally within 45 days of TRS’ receipt of your withdrawal request.

No. There is no Required Minimum Distribution from a Roth account in TRS’ TDA Program.

TRS membership provides a wide range of benefits, including the following:

• A guaranteed retirement allowance through our Qualified Pension Plan (QPP) upon meeting certain age and service requirements.
• The opportunity to set aside additional funds for retirement by participating in our Tax-Deferred Annuity (TDA) Program. The TDA Program offers a traditional (pre-tax) option and a Roth (after-tax) option.
• Loans from your QPP and traditional TDA accounts after your first year of credited service or TDA participation, respectively.
• Disability retirement benefits upon meeting certain requirements; and
• Death benefits for your surviving beneficiaries.

The current interest rate on a QPP loan is 6%.

For all tiers, the interest rate on a TDA loan is equal to the annual rate of return that you would receive on TDA investments in the Fixed Return Fund. Therefore, for members serving in (or retired/resigned from) a UFT-covered title, the interest rate on TDA loans would be 7%; for other members, the interest rate would be 8.25%.

A $30 service charge is added to all TDA loans, as well as to QPP loans issued to Tier III, IV, and VI members.

No, based on an Internal Revenue Service change effective after 2019. However, you would not be eligible for a hardship withdrawal unless you have maximized certain other available TRS resources. These include any pre-1989 funds and if you are a Tier I or Tier II member, any excess Annuity Savings Fund (ASF) accumulations. You should also ensure that you have maximized any reasonably available funds or distributions from other resources before you apply for a TDA hardship withdrawal.

The current interest rate on a QPP loan is 6%.

For all tiers, the interest rate on a TDA loan is equal to the annual rate of return that you would receive on TDA investments in the Fixed Return Fund. Therefore, for members serving in (or retired/resigned from) a UFT-covered title, the interest rate on TDA loans would be 7%; for other members, the interest rate would be 8.25%.

A $30 service charge is added to all TDA loans, as well as to QPP loans issued to Tier III, IV, and VI members.

Retirees who take TDA loans have a choice of how they want to repay the loans: automatic deductions from their monthly retirement allowance, online payments in the secure section of our website, or monthly direct payments to TRS. To change your repayment method for any outstanding TDA loan, you may file a Request to Change TDA Loan Repayment Method (code LO105). You may also request to repay your outstanding loan in a lump sum by filing a TDA Loan Repayment Request Form (code LO11t) with TRS.

R-M-D stands for a Required Minimum Distribution.

The Internal Revenue Service (IRS) determines how long participants in Section 403(b) plans such as TRS’ Tax-Deferred Annuity (TDA) Program may defer payment from their TDA accounts. In general, you must begin receiving a distribution from your account if you are retired and are maintaining a TDA account and are turning 73 or older during the year.

The amount you must receive each year is known as an RMD.

TRS offers affected members the chance to receive a payment in the full amount of their RMD. However, TDA withdrawals that are received (and not rolled over) also count toward the distribution requirement for the year.

R-M-D stands for a Required Minimum Distribution.

The Internal Revenue Service (IRS) determines how long participants in Section 403(b) plans such as TRS’ Tax-Deferred Annuity (TDA) Program may defer payment from their TDA accounts. In general, you must begin receiving a distribution from your account if you are retired and are maintaining a TDA account and are turning 73 or older during the year.

The amount you must receive each year is known as an RMD.

TRS offers affected members the chance to receive a payment in the full amount of their RMD. However, TDA withdrawals that are received (and not rolled over) also count toward the distribution requirement for the year .