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REQUEST FOR DROP DISTRIBUTION AND ROLLOVER ELECTION RSA 10 D-D 02/10 1M Check One ERS TRS Retirement Systems of Alabama P. O. Box 302150 Montgomery AL 36130-2150 334-517-7000 or 877-517-0020 www. rsa-al*gov Please type or print using black ink. PART I MEMBER INFORMATION Name First Middle Address Last Home Phone Number Street Address or P. O. Box City Social Security No* State Country - Zip PART II DISTRIBUTION OPTION Please read the enclosed special tax notice before completing the remainder of this form* Select only one of the following Lump Sum Payment I elect to receive at the above address full distribution of my DROP account less the 20 Federal Income Tax withholding required* Sign and have your signature notarized* Submit the form to the RSA at the address above. Do not complete Part III. I elect to have the entire DROP account balance rolled over into an eligible retirement account listed under Part III. I elect to have of the taxable funds rolled over to an eligible retirement ....

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Alabama has a 10 year vesting period. While educators qualify for a pension after 10 years of service, however, the pension may still not be worth all that much. Moreover, educators can't begin to collect it until they hit the state's retirement age.

RSA-1 is a deferred compensation plan sometimes referred to as a 457 plan because its laws are defined in that section of the Internal Revenue Code.

A. You must apply, as benefits will not start until you file an application. To file an application, you can call the Social Security Administration at 1-800-772-1213. Your application can be taken over the phone or you can arrange for an appointment at any Social Security Office.

Obtain Application for Refund form(TRS 6) (pdf) and Special Tax Notice Regarding Rollover Options under TRS from the TRS website or by calling the TRS Automated Telephone System at 1-800-223-8778. Read and complete Application for Refund form(TRS 6)(pdf), sign the form, and have it notarized.

When am I eligible to retire? Tier 1 member: You are eligible to retire at any age with 25 or more years of service or at age 60 with 10 or more years of service.

There is no provision for a loan from your RSA-1 account. You may not withdraw from your account unless you are no longer employed with a state agency or school, are age 70½ or older, have an unforeseeable emergency, or qualify for a small balance withdrawal.

The only way to get money out of an ERS account is to terminate employment and withdraw the entire account.

The minimum for vesting is 10 years' worth of creditable service. This translates to the equivalent of 10 years of full-time work as part of the ERS. If you have at least 10 years of creditable service and are at least age 60, you can begin to receive the lifetime retirement benefits.

Tier 1 members are eligible for retirement benefits at age 60 with at least 10 years of service. If you have 25 years of service, you can retire at any age and apply for full retirement benefits from RSA. Tier 2 members are eligible for retirement benefits at age 62 with at least 10 years of service.

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© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232
Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
DMCA Policy
About Us
Blog
Affiliates
Contact Us
Privacy Notice
Delete My Account
Site Map
All Forms
Search all Forms
Industries
Forms in Spanish
Localized Forms
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate workflows
DocHub
Instapage
Social Media
Call us now toll free:
1-877-389-0141
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232