Form Trs 6 - Application For Refund Page 12
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13Special Tax Notice Regarding Rollover
Options under TRS
TRS 6PG1 (09-17)
to the entry, in the margin, you must write the letters "PSO." This is an annual election - you
will need to report the exclusion for each year in which you want to claim the exclusion.
If you are not a TRS member, or if you are a member but are receiving a TRS payment as
a beneficiary or alternate payee of another member
Payments after death of the member. If you receive a distribution after the member's death that
you do not roll over, the distribution will generally be taxed in the same manner described
elsewhere in this notice. However, the 10% additional income tax on early distributions and the
special rules for public safety officers do not apply, and the special rule described under the
section "If you were born on or before January 1, 1936" applies only if the member was born
on or before January 1,1936.
If you are a surviving spouse. If you receive a payment from TRS as the surviving spouse of
a deceased member, you have the same rollover options that the member would have had, as
described elsewhere in this notice. In addition, if you choose to do a rollover to an IRA, you
may treat the IRA as your own or as an inherited IRA.
An IRA you treat as your own is treated like any other IRA of yours, so that payments made to
you before you are age 59 ½ will be subject to the 10% additional income tax on early
distributions (unless an exception applies) and required minimum distributions from your IRA
do not have to start until after you are age 70 ½.
If you treat the IRA as an inherited IRA, payments from the IRA will not be subject to the 10%
additional income tax on early distributions. However, if the member had started taking required
minimum distributions, you will have to receive required minimum distributions from the
inherited IRA. If the member had not started taking required minimum distributions from TRS,
you will not have to start receiving required minimum distributions from the inherited IRA until
the year the member would have been age 70 ½.
If you are a surviving beneficiary other than a spouse. If you receive a payment from TRS
because of the member's death and you are a designated beneficiary other than a surviving
spouse, the only rollover option you have is to a direct rollover to an inherited IRA. Payments
from the inherited IRA will not be subject to the 10% additional income tax on early distributions.
You will have to receive required minimum distributions from the inherited IRA.
Payments under a qualified domestic relations order. If you are the spouse or former spouse
of the member who receives a payment from TRS under a qualified domestic relations order
(QDRO), you generally have the same options the member would have (for example, you may
roll over the payment to your own IRA or another eligible employer plan that will accept it). If
you are an alternate payee other than the spouse or former spouse of the member, you
generally have the same options as a surviving beneficiary other than the spouse, so that the
only rollover option you have is to do a direct rollover to an inherited IRA. Payments under the
QDRO will not be subject to the 10% additional income tax on early distributions.
Teacher Retirement System of Texas
Page 6 of 7
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