TRF Member Handbook: Rollover Savings Account (RSA)

As an active member of TRF, you can open a Rollover Savings Account (RSA). The money for this account can come from an IRA or other qualified retirement plan. However, we will only accept transfers of money pre-tax. These are known as “rolled over” funds.

Investment Election Options for an RSA

The money in your RSA is invested like your Defined Contribution (DC) account. There are seven fund options for an RSA.

*The Money Market Fund is only available for your RSA. To learn more about each fund, check out the fund fact sheets linked above.

RSA Allocation Changes

You can change the amount of money you invest in each fund. The amount must be at least 1 percent of your total balance and you can change it daily.

Beneficiary Designation

Your Rollover Savings Account (RSA) will be combined with your DC and paid to those beneficiaries.

It is important you keep your beneficiary information up-to-date. Your beneficiary is the person who will receive money after you pass away. This decision must be made by you prior to your death. If you do not name someone to receive the money in your DC, INPRS will pay it to your estate when you pass away.

Online RSA Information

Each quarter, you will receive a statement about your DC. If you have an RSA, it will also be listed. Like the DC, your RSA balance will include any investment gains or losses and any investment fees. Please see the “Quarterly Member Statement” section to find out how to get to your RSA online.

RSA Options at Retirement

MetLife Annuity – You may elect to use your Rollover Savings Account (RSA) to purchase a MetLife Annuity. Your options are:

  • Straight Life Annuity with Cash Refund
  • 100% Survivor Annuity with Cash Refund
  • 66 2/3% Survivor Annuity with Cash Refund
  • 50% Survivor Annuity with Cash Refund

Visit the MetLife Retirement Income Center to get an annuity estimate.

Direct Rollover – You may elect to have your RSA paid in the form of a direct rollover to an IRA or Qualified Retirement Plan. You must complete your IRA or Qualified Retirement Plan information.

Split RSA – You may elect to split your RSA between these options:

  • MetLife Annuity
  • Direct Rollover
  • Lump Sum
  • Defer

You must indicate the IRA or Qualified Retirement Plan information if you choose to roll over a portion of your RSA.

You may elect one of the percentages of your RSA to purchase a MetLife Annuity:

  • Straight Life Annuity with Cash Refund
  • 100% Survivor Annuity with Cash Refund
  • 66 2/3% Survivor Annuity with Cash Refund
  • 50% Survivor Annuity with Cash Refund

Visit the MetLife Retirement Income Center to get an annuity estimate.

For 100%, 66 2/3% or 50% annuity survivor benefit, you must designate only one survivor.

Full Withdrawal – You may elect to have the total amount of your RSA (less mandatory federal income tax withholding) paid directly to you.

RSA Deferment – You may elect to defer distribution of your RSA until a later date. Your account will continue to be invested with INPRS under the same guidelines applicable to a RSA. You may change the allocation strategy of the RSA quarterly. Distribution must begin April 1 of the calendar year after the year in which you turn age 70 ½. If you do not want your assets in this account paid to your estate at your death, you must designate a beneficiary.

Buying Service in another Plan

You may withdraw your RSA to buy creditable service in another governmental retirement plan. You can do this only if you:

  •  have not applied for your retirement benefit, and
  •  currently are not employed in a TRF-covered position.

Voluntary Withdrawal of RSA Funds

If you are not vested, you can still withdraw your RSA. You must withdraw the entire amount. Contact our Customer Service Center at (844) GO-INPRS to request a withdrawal.

If you are vested, you may withdraw any portion of your RSA and are not required to withdraw the entire amount. You may only elect to annuitize any or all of your RSA when you are applying for retirement.

TRF Member Handbook: Working after Retirement