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Rollover Savings Account (RSA)
The Rollover Savings Account (RSA) is another approach to save for retirement. This account may be created by rolling funds from another tax-deferred retirement account into a Rollover Savings Account. The Indiana State Teachers’ Retirement Fund is a qualified governmental retirement plan as described in Section 401(a) of the Internal Revenue Code. A copy of TRF’s Qualification Letter is available upon request.
Pursuant to Indiana Code 5-10.2-3-10 and to the extent permitted by the Internal Revenue Code and the applicable regulations, the Indiana State Teachers’ Retirement Fund, on behalf of any active member, will accept a rollover distribution into a Rollover Savings Account from any of the following:
(1) A qualified plan described in Section 401(a) or Section 403(a) of the Internal
(2) An annuity contract or account described in Section 403(b) of the Internal
(3) An eligible plan maintained by a state, a political subdivision of a state, or an
agency or instrumentality of a state or political subdivision of a state under
Section 457(b) of the Internal Revenue Code.
(4) An individual retirement account or annuity described in Section 408(a) or
Section 408(b) of the Internal Revenue Code.
Note: We cannot accept the rollover of any after-tax funds. Therefore a rollover from a Roth IRA is not permitted.
The Rollover Savings Account (RSA) is maintained separate from the member’s Annuity Savings Account (ASA) with the exeception of the Guaranteed Fund, all invesment options available for the ASA are also available for the RSA. In addition, the RSA may be invested in a Money Market Fund. Investment allocations may be changed daily. Please download the Investment Allocation Form to change your Rollover Savings Account allocations. Note: If an Investment Allocation Form is not received, the rollover funds will automatically be placed in the Money Market Fund by default until TRF receives an Investment Allocation Form from the member.
Members may withdraw their Rollover Savings Account balance at any time. Note: the Rollover Savings Account balance must be withdrawn in full. If distribution is delayed until the time of retirement, you may choose to add your RSA to your monthly pension benefit through a lifetime annuity, to withdraw the entire amount, or to defer distribution until a later time. Beneficiaries may be named for your RSA independently of those listed on your ASA.
A lump sum withdrawal may be made at any point before retirement from the member’s Rollover Savings Account. At retirement, members may withdraw from their RSAs in accordance with the retirement options that are available for the member's ASA, including the deferral of a withdrawal.
Rollover checks should be made payable to:
Bank of New York Mellon
ATTN: Lockbox 360512
500 Ross Street 154-0455
Pittsburgh, PA 15251-6512
Members with RSA balances will be provided with the information for this account on their quarterly statements.