Top 10 Questions about TRS and DROP

TOP 10 QUESTIONS ABOUT TRS AND DROP

1. When will you make your most important financial decision as an educator?

2. Is a lump sum available to the beneficiary regardless when retiree dies?

3. Can the beneficiary be changed without affecting retiree's income if the beneficiary dies first?

4. Can the beneficiary be changed without affecting retiree's income in the event of a divorce?

5. Can multiple beneficiaries be named?

6. Are new beneficiary benefits effective immediately?

7. Is cash available to surviving retiree if beneficiary dies first?

8. Are you able to count accrued sick days as eligibility for DROP? 

9. Are the proceeds from DROP taxable at withdrawal?

10. Does the option you select at the start of DROP affect the size of your DROP pool at            withdrawal?

 

If you do not know the answers to these questions, you may wish to meet with a representative of the Retirement Council of Alabama.

 

Retirement Council of Alabama

1-888-456-1533