TRF At A Glance

7/1/2022 MY CHOICE TRF AT A GLANCE Retirement Savings Plan Mandatory 3 percent employee share of gross Voluntary Contributions, continued wages paid by employer. < Employee can elect up to 10 percent of gross wages to contribute additional Employer crediting rate portion of employer share money is 6.0 percent. Members must meet vesting Contributions 1, 2 < Employee’s voluntary contributions are requirements. post-tax. Voluntary Contributions < Employee may do direct rollovers from quali昀椀ed plans The employee share is fully vested upon hire and based on full years of participation: Vesting < 3 years = 60 percent < 1 year = 20 percent < 4 years = 80 percent < 2 years = 40 percent < 5 years = 100 percent Eligibility for You must be a new TRF member entering into TRF-covered employment on or after July 1, 2019. You 3 Plan Participation will be able to choose membership in either the Hybrid or My Choice: Retirement Savings Plan. < Quali昀椀ed for Social Security disability bene昀椀ts After demonstrating disability, member can and furnished proof of quali昀椀cation Eligibility for withdraw funds. < Received a salary from a position covered by the My Choice: Retirement Savings Plan within Disability Bene昀椀t Withdrawal is limited to the vested portion Payment 30 days of social security eligibility date of the employee’s account balance with this < Vested in employer share beginning at one option. year of participation Members direct their investments in a combination of any of eight funds (see list below). The default < Large Cap Equity Index Fund investment fund is the target date fund based on a Investment < Small/Mid Cap Equity Fund member’s estimated retirement date. Options < International Equity Fund < Inflation-Linked Fixed Income Fund < Money Market Fund < Stable Value Fund < Fixed Income Fund < Target Date Funds 1 My Choice: Retirement Savings Plan employer contribution rates are effective July 1, 2022 to June 30, 2023. 2 Contribution amounts covering unfunded pension liability are not made to My Choice: Retirement Savings Plan accounts. 3 More information is available in the TRF My Choice: Retirement Savings Plan Handbook.