TRS explains one‑time accelerated pension buyout, deadlines and health‑insurance implications

Sandy, a presenter for the Teachers' Retirement System (TRS), told inactive TRS members in a webinar that the Accelerated Pension Benefit (APB) lets eligible members take a one‑time lump sum instead of waiting for a monthly pension. "The payment is defined as roughly 60% of the present value of your anticipated pension benefit," she said, and warned that accepting APB is final: "Once this application is returned to TRS, that is a final decision... It's irrevocable."

The APB program was created by state action in 2019 and, as explained in the webinar, is currently available through June 30, 2026. For members who want to take APB in this offer cycle, TRS said completed and notarized APB paperwork must be returned by April 7, 2025. TRS will issue the one‑time check from the comptroller's office and withhold 20% for federal taxes unless the recipient rolls the funds directly into a qualified plan; a rollover requires the…