6 Withdrawals, Distributions, and Loans The following sections address eligibility requirements and information about taking a distribution of your TRF Hybrid DC and/or RSA funds. If you meet the requirements in this section and take a distribution of your DC account, regardless if you are vested or not, you will no longer receive quarterly member statements. TRF Hybrid was created by statute and does not have any provisions for loans; therefore, loans are not permitted. 6.1 Eligibility for a Distribution You may take distribution of the balance of your DC or roll it over to another Qualified Retirement Plan if you meet the following requirements: • Not receiving a disability or retirement pension benefit. • Not eligible to receive a full unreduced pension benefit. • Completely separated from your employer for at least thirty (30) days. If you leave a TRF Hybrid-covered position for a PERF Hybrid-covered position without the required separation of employment (when a separation is required), you cannot take a distribution of your DC account. If you leave TRF Hybrid-covered employment for employment other than TRF/PERF Hybrid, you may be eligible to receive a distribution of your DC account. Distribution at Age 59½ As of January 1, 2021, if you are an active member of TRF Hybrid, you are permitted to take in-service distributions of your DC accounts if you meet specific requirements. You must be at least 59½ years of age and meet age and service eligibility for normal retirement to qualify. See 35 IAC 14-3-1.2. If you are at least 59½ years of age and leave TRF Hybrid-covered employment for employment other than PERF/TRF Hybrid, you may be eligible to receive a distribution of your DC account. If you are at least 59½ years of age and continue uninterrupted employment in any capacity (full or part time) but are placed in a non-covered position, you may be eligible to withdrawal your DC under 35 IAC 1.2-5-1.3 without a 30-day separation. 6.2 Ineligibility for a Distribution If you are an active member of TRF Hybrid, you cannot take a distribution unless you meet the requirements for taking a distribution at age 59½. If you leave a TRF Hybrid covered position for a PERF Hybrid covered position without the required separation of employment (when a separation is required), you cannot take distribution of your DC account. If you are re-employed in a TRF Hybrid-covered position within 30 days from the date of termination, you are not eligible for a distribution. As of January 1, 2021, this applies to individuals who are not age and service eligible for retirement at the time of their distribution. If you continue uninterrupted employment in any capacity (full-time or part-time) in any agency or department of your current employer, regardless of whether the new position is covered under TRF Hybrid or not, you will not be considered separated from employment. Teachers' Retirement Fund Hybrid Plan Member Page 26 of 47 Handbook Effective: 07/01/2024