PERF Employer Handbook: Member Statement of Account
Each quarter, your participating employees will have online access to a statement of the contributions and current market value of their Annuity Savings Accounts. They may also elect to have a statement mailed to their home. Annually, members will receive an invitation to review online INPRS’ records of wages and service credit. This invitation will be mailed directly to the member’s home address, so it is critical that every effort be made to keep the member’s address current in INPRS’ records. Members may update this information themselves by logging on to inprs.in.gov and registering for PERF Online.
Annuity Account Investment (ASA) Options
PERF offers eight investment options from which members can choose to invest their ASA funds. To view or change investment options, members should log in to their PERF Online accounts to complete their investment direction elections. Or, they may call (888) 526-1687 to complete their requests via phone with a customer service representative. A member’s ASA is subject to market risk when his or her funds are invested in options other than the Guaranteed Fund.
Guaranteed Fund
The value of an investment in this fund can never decrease, regardless of the actual performance of the investments of the fund. It also can increase only at the rate set each year by the PERF Board of Trustees. Guaranteed Fund assets are invested according to the asset allocation of the Defined Benefit Plan as approved by the PERF Board of Trustees. Guaranteed Fund investments include bonds, large capitalization stocks, small capitalization stocks, and other types of diversified investments.
Money Market Fund
This fund aims to provide a capital preserving investment with a stable rate of return. Investments in this fund are typically high quality fixed-income securities. The maximum weighted average maturity is 90 days. The investment return generally comes from interest earned by the securities and not from a change in their market value.
Fixed Income Fund
The investment objective of the fund is to seek total return, consisting of income and capital appreciation, through both active and passive investment in a diversified bond portfolio.
Large Cap Equity Index Fund
The investment objective of the fund is to seek investment growth/capital appreciation through passive investment in the stocks of the 500 largest U.S. companies.
Small/Mid Cap Equity Fund
The investment objective of the fund is to seek investment growth/capital appreciation through both active and passive investment in the stocks of small- and mid-sized U.S. companies.
International Equity Fund
The investment objective of the fund is to seek investment growth/capital appreciation through both active and passive investment in the stocks of non-U.S. companies in both developed and emerging markets.
Inflation-Linked Fixed Income Fund
The investment objective of the fund is to maximize real return, consistent with the preservation of capital, through active investment in inflation-linked bonds.
Target Date Funds
The objective of the funds is to pursue an investment strategy consistent with a specific target retirement date through diversified investment options. The asset allocation automatically shifts to become more conservative as the retirement date approaches.
Investment Rules
- The member will be able to view daily valuations of his or her Annuity Savings Account contributions and make daily changes to his or her investment allocations.
- The investment direction covers a member’s current Annuity Savings Account balance and all future contributions.
- New enrolled members of PERF will be invested only in the target date funds until they select other options through PERF Online. Members may also call (888) 526-1687 to complete their investment direction requests via phone with a customer service representative.
- A member returning to PERF-covered employment will be subject to the same investment option elections as when the member left, regardless of whether the member elected to withdraw his or her Annuity Savings Account. If other elections are desired, he or she should select these options through PERF Online. A member may also call (888) 526-1687 to complete his or her investment direction requests via phone with a customer service representative.
- Investment options do not continue for retirees who return to PERF-covered employment. Their contributions will be invested in the target date funds until they select other options through PERF Online. Retirees may also call (888) 526-1687 to complete their investment direction requests via phone with a customer service representative.
