Employer Update

TRF + PERF = INPRS

Legislation approving the merging of the administration of funds of the Public Employees’ Retirement Fund (PERF) and the Teachers’ Retirement Fund (TRF) was adopted by the General Assembly and signed by Gov. Mitch Daniels in April. The creation of the Indiana Public Retirement System (INPRS) becomes effective July 1, 2011. Combined membership totals equal nearly 500,000 members.

Each retirement fund will continue as a separate fund under the oversight of a combined INPRS nine-member board of trustees. Individual funded status for each plan will continue to be calculated separately.

INPRS will administer and manage the following plans:

  • Public Employees’ Retirement Fund
  • Teachers’ Retirement Fund
  • Prosecuting Attorneys’ Retirement Fund
  • 1977 Police Officers’ and Firefighters’ Pension and Disability Fund
  • Legislators’ Retirement System
  • Judges’ Retirement System
  • State Excise Police, Gaming Agent, Gaming Control Officer and Conservation Enforcement Officers’ Retirement Plan

INPRS will also oversee three non-retirement funds including the Pension Relief Fund, the Public Safety Officers’ Special Death Benefit Fund and the State Employees’ Death Benefit Fund.

School’s Out! Remember To Turn In To Get An A+

In the past, you've helped us successfully finalize the paperwork needed to process your staff's retirement applications before the close of the school year. We're asking again for your assistance. Before you close the books on another year and take a well deserved vacation, please prepare this required information and provide it to PERF and TRF to process your staff's retirements:

  • Last Day in Pay (LDPS) for employees retiring in July or August
  • Certify Service such as school term, contract period or actual months worked
  • Final Wage Report
  • Part II information, including the last year’s contract

PERF and TRF cannot process retirement benefits without this information. Please help us to help them start their well earned retirements without payment interruption! Log in to PERF Online at perf.in.gov or TRF Interactive at trf.in.gov to submit the information before or during the employee's exit interview. If you have any questions, please call PERF toll-free at (888) 526-1687 or email us at questions@perf.in.gov. For TRF, please call us toll-free at (888) 286-3544 or email trf@trf.in.gov.

PERF Annual Member Statement Mail Date Change

Annual Member Statements for members of the Public Employees’ Retirement Fund (PERF) will be mailed out in late June and continue through July due to a slight delay. Members of the main PERF fund, including many state, municipal and university public employees will receive a statement.

The statements will provide members PERF's record of their wages and service. An estimate of a potential benefit for any member with at least five years of creditable service will also be provided.

The statement provides members information regarding their defined benefit pension plan, which guarantees eligible members a specified monthly income for life, upon retirement.

Members should review their annual statements carefully to make certain all information is accurate. Those with questions regarding their statements may visit PERF's Web site at perf.in.gov, e-mail PERF at questions@perf.in.gov or call toll-free: (888) 526-1687.

Submit Records Online

As a reminder, membership records must be submitted electronically via PERF Online/TRF Interactive. For PERF only, you may submit member records one at a time or use the bulk upload feature.

Additionally, because all membership records must be submitted electronically, there is no need to fill out a paper membership record and any paper membership records received will not be processed.

Remember, the electronic membership record does not include an employee’s beneficiary information. Once new members are enrolled, they will receive a welcome packet that will provide login information, new member Pension ID (PID) and passcode. Members are encouraged to view their account information, update investment options and establish a beneficiary.

Dates For Upcoming Member Communication

Daily: Letters will be mailed to members who defaulted to the appropriate target date fund and have not made a subsequent investment election within 60 days after being added to the recordkeeping system (ongoing).

Late June/July 2011: Annual Member Statements will mail to members of the main PERF fund, including many state, municipal and university public employees.

July/August 2011: Quarterly Member Statements will be sent for the 3/1/11-6/30/11 quarter.

For more information regarding these changes, visit our Web site:

www.perf.in.gov
or
www.trf.in.gov

Every attempt has been made to verify that the information in this publication is correct and up-to-date. Published content does not constitute legal advice. If a conflict arises between information contained in this publication and the law, the applicable law shall apply.