Form TRS037 Former Member Election of Participation - Defined Benefit Plan or Defined Contribution Retirement Plan - Alaska

Form TRS037 Former Member Election of Participation - Defined Benefit Plan or Defined Contribution Retirement Plan - Alaska

What Is Form TRS037?

This is a legal form that was released by the Alaska Department of Administration - a government authority operating within Alaska. As of today, no separate filing guidelines for the form are provided by the issuing department.

FAQ

Q: What is Form TRS037?
A: Form TRS037 is a document used by former members of the Teachers' Retirement System (TRS) in Alaska to make an election regarding their participation in either a Defined Benefit Plan or a Defined Contribution Retirement Plan.

Q: Who can use Form TRS037?
A: Form TRS037 can be used by former members of the Teachers' Retirement System (TRS) in Alaska.

Q: What is the purpose of Form TRS037?
A: The purpose of Form TRS037 is to allow former TRS members to choose between participating in a Defined Benefit Plan or a Defined Contribution Retirement Plan.

Q: What are Defined Benefit and Defined Contribution Plans?
A: A Defined Benefit Plan is a retirement plan where the future benefit is based on a formula, usually using factors such as salary and years of service. A Defined Contribution Retirement Plan is a retirement plan where the employer and/or employee make contributions to an individual account, and the future benefit is based on the investment performance of that account.

Q: Why do former TRS members need to make an election?
A: Former TRS members need to make an election to determine the type of retirement plan they want to participate in going forward.

Q: Are there any deadlines for submitting Form TRS037?
A: Yes, there are deadlines for submitting Form TRS037. It is important to check the specific deadline provided by the Alaska Teachers' Retirement System.

Q: What happens if a former TRS member does not submit Form TRS037?
A: If a former TRS member does not submit Form TRS037, they may be automatically enrolled in the Defined Benefit Plan.

Q: Can a former TRS member change their election later?
A: Once a former TRS member makes an election on Form TRS037, it is generally not possible to change the election later, so it is important to carefully consider the options before making a decision.

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Form Details:

  • Released on August 1, 2022;
  • The latest edition provided by the Alaska Department of Administration;
  • Easy to use and ready to print;
  • Quick to customize;
  • Compatible with most PDF-viewing applications;
  • Fill out the form in our online filing application.

Download a fillable version of Form TRS037 by clicking the link below or browse more documents and templates provided by the Alaska Department of Administration.

Download Form TRS037 Former Member Election of Participation - Defined Benefit Plan or Defined Contribution Retirement Plan - Alaska

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