Frequently Asked Questions (FAQ)
|1.||Question:||Are QPP and SPP funds available for loans or hardship withdrawals?|
|Answer:||QPP and SPP do not contain any provisions for loans or hardship withdrawals.|
|2.||Question:||Can an employee opt out of QPP or SPP participation?|
Because of federal laws and ERISA requirements, all QPP-eligible employees MUST participate in QPP, and all SPP-eligible employees MUST participate in SPP, as a condition of their employment.
Note: QPP and SPP are completely separate from TRS (Teachers’ Retirement System of Texas) and ORP (Optional Retirement Plan). For TRS and ORP information, please see Retirement within Employee Benefits.