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How to apply for APB, tax and rollover options, and TRS account setup
Summary
TRS explained application steps: request the APB packet, complete a notarized application, choose payment as a check (20% federal withholding), a rollover to a qualified plan (no withholding), or a mix; members must confirm contact info in their TRS account and may need to set up an account with multi‑factor authentication.
TRS staff walked attendees through the operational steps to request and complete an APB election, and explained tax and account requirements.
Requesting and submitting the application Members who received an APB packet were told to complete the enclosed application and have their signature notarized. Benhart said members who did not receive a recent packet can contact TRS to request an updated packet. The application can be scanned and uploaded to a TRS account; TRS requires a notarized signature before processing.
Payment method and tax treatment Benhart outlined three delivery options: a lump‑sum check (TRS will withhold 20% for federal taxes), a direct rollover to a qualified plan such as an IRA or employer plan (no 20% withholding), or a combination. She recommended consulting a tax adviser for individual tax consequences and reminded members the APB election is irrevocable once TRS processes it.
TRS accounts and security TRS implemented multi‑factor authentication on April 28, 2025; members who had older TRS accounts must recreate or reauthenticate accounts and confirm address, phone and beneficiary information. Benhart advised members to contact TRS by telephone to schedule an appointment for complex, account‑specific questions (TRS provides free appointments). She said TRS generally requests retirement paperwork 6–12 weeks before a planned retirement date so it can generate a final benefit estimate and complete processing.
