6 Withdrawals, Distributions, and Loans TRF My Choice was created by statute and does not have a provision for loans; therefore, they are not permitted. 6.1 Withdrawals & Distributions If you separate from a TRF My Choice-covered position for a reason other than death or disability, you may apply for a distribution of your contributions plus interest based on the vesting schedule outlined in Chapter 3. If you choose to leave your contributions invested with TRF My Choice, they can be withdrawn at any time. If you are no longer in a TRF My Choice covered position but are still employed with the same employer, you do not qualify to take a distribution unless you have reached age 62 and you are fully vested. 6.1.1 Separated from Employment (Not Fully Vested) If you are no longer working in a TRF My Choice-covered position you can take distribution of the vested balance of your account and receive a lump sum distribution, partial withdrawal, or roll the funds to another qualified retirement plan. Your distribution amounts consist of:  The 3% annual fixed employee contributions (which is required to be picked up by employers)  Voluntary contributions (if applicable).  Rollovers (if applicable).  All interest and earnings credited to the account less any losses.  Vested percentage of variable contribution (see the vesting schedule in Chapter 3). TRF My Choice DC distributions are regulated by the following conditions:  If you continue uninterrupted employment in any capacity (full-time or part-time) in any agency or department of the current employer, regardless of whether the new position is covered under TRF My Choice or not, you are not considered separated from employment.  If you are re-employed in a My Choice Plan-covered position within 30 days from the date of termination, you are not eligible for a distribution. Any requested distribution will be void. You may be required to pay back the distribution, plus interest. You should notify INPRS immediately if you become re-employed within a 30-day period. It is important to note that required minimum distribution (RMD) may take precedence over any of the automatic cash-out or rules regarding suspension. See section 10 for more information about RMD. 6.1.2 Not separated from Employment (Not Fully Vested) You are ineligible for any distribution until you have separated from your TRF My Choice covered employment for 30 days at which time the distribution is according to the vesting schedule. 6.1.3 Not Separated from Employment (Fully Vested) Prior to January 1, 2021, you are ineligible for your DC funds (DC and Rollover Pre-Tax Contributions, as applicable) contributed to the member share portion of your DC until you have separated from your TRF My Choice -covered employment. None of the employer share contributions are available for distribution until you separate from employment for 30 days and then the distribution is according to the vesting schedule. Effective January 1, 2021, an active member of TRF My Choice is permitted to distributions of his/her DC account if the member is at least age 62 and has 5 years participation credit. If you do not meet these requirements, you are not eligible for a distribution and must wait until you separate from employment for 30 days. TRF My Choice: Retirement Savings Plan Member Page 18 of 30 Handbook Effective: 07/01/2024