What happens to TRS if I leave Texas?
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What happens to TRS if I leave Texas?
If your membership is terminated, your service credit will be canceled and your accumulated contributions will no longer accrue interest. You may leave your accumulated contributions with TRS and earn interest at a rate of 2 percent per year.
What happens to TRS if I leave teaching?
If you cease teaching, you may receive a refund of your retirement contributions. If you terminate teaching with a TRS employer, you may apply for a refund of your retirement contributions. This refund consists of the portions used to pay the retirement annuity and the annual increases in the annuity.
Can my ex wife go after my retirement?
It all depends on the type of pension that you have. In some pension plans your spouse will be allowed to receive lump sum payments as early as the time that the QDRO is approved. In the event that you have a 401(k) or IRA it is more likely that your spouse will receive monthly payments from the retirement plan.
Can inherited IRAs be split in a divorce?
But here’s the thing. It’s being done anyway. Courts have allowed the inherited IRA to be split up in divorce (with a court order pursuant to a divorce agreement), and the IRA custodians are accepting the transfers of the inherited IRA funds, probably because they don’t want to defy a court order.
