Where do you stand on retirement readiness?
If you had to guess, would you say you are more prepared for retirement than your peers? Less? The same?
According to data from our most recent member survey, 52 percent of members say they are somewhat confident that they will have enough money to pay for basic expenses in retirement. Only 27 percent were very confident. When it comes to being confident they could not only cover basic expenses, but live comfortably, 48 percent were somewhat confident. Only 16 percent were very confident.
Smaller fund members not impacted by upcoming changes
Members of INPRS' smaller funds will not be impacted by upcoming changes to annuities.
You may have heard about these changes that impact only PERF and TRF. Effective Oct. 1, 2014, INPRS will begin using a market rate to provide TRF and PERF annuities, through an outside provider. This change prevents a minimum $343 million immediate loss to INPRS. To read more about the PERF and TRF changes, click here.
Again, neither of these changes impact members of INPRS' smaller funds.