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Re: Cashing out TRS Account
Posted by: Lynn on 11/03/09
You will only receive what you put into iy over the years you
paid into it. you will also receive some interest. However
unless you roll it over into an IRA or some kind of
retirement account, you will be taxed. Check to see the rules
if the money is going toward a house or hardship. Contact TRS
and the IRS. Good luck
On 11/01/09, Anyone Know wrote:
> Due to some life circumstances, I may be having to move
> with my spouse to another state for job opportunity. We are
> unable to survive on my salary alone and need the new job
> opportunity to stay afloat. The company my spouse may be
> going to work for is not going to pay for relocation. The
> only way we can afford for my spouse to take this job,
> which is a WONDERFUL opportunity, is for me to cash out my
> TRS account. I've only taught for 3 years, so it's not like
> I have a huge chunk of change in there. Do you know what I
> can do to get this money? Is there a tax penalty?
Posts on this thread, including this one
- Cashing out TRS Account, 11/01/09, by Anyone Know.
- Re: Cashing out TRS Account, 11/01/09, by Brenda.
- Re: Cashing out TRS Account, 11/01/09, by EasTexSteve.
- Re: Cashing out TRS Account, 11/03/09, by Lynn.
- Re: Cashing out TRS Account, 11/03/09, by 4thintx.
- Re: Cashing out TRS Account, 11/04/09, by anon.
- Re: Cashing out TRS Account, 11/04/09, by hs math.
- Re: Cashing out TRS Account, 11/06/09, by PCO.
- Re: Cashing out TRS Account, 11/10/09, by Going back to school and using the TRS Money.
- Re: Cashing out TRS Account, 11/11/09, by Tex.
- Re: Cashing out TRS Account, 11/12/09, by Anon.
- Re: Cashing out TRS Account, 11/17/09, by TTeacher.
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