Do you really want to work FOREVER?Reasons why you should save for retirement
You don’t want to work forever, and you will ultimately be responsible for funding your retirement. If you want to stop working, think about how much income you will need to live. Social Security provides a basic “floor” of income that you will have to build on for a comfortable retirement. Pensions have provided about one-third of retirees with some added income each month. If your employer offers a savings plan at work, use it.
Quick! What do you know about your retirement benefit?An overview of your plan provisions is available online. Click on your fund-specific link to download a PDF copy.
What’s the going rate?On Dec. 16, 2011, the Indiana Public Retirement System (INPRS) Board of Trustees, that oversees the 1977 Police Officers’ and Firefighters’ Pension and Disability Fund (1977 Fund), approved an employer contribution rate of 19.7 percent effective Jan. 1, 2013. This is unchanged from the rate effective Jan. 1, 2012.
The 1977 Fund employer contribution rate is determined by investment performance over a rolling four-year period as well as the demographics of fund members, such as age, salary, and years of service.
Who will get the goods after I'm gone?Q. I’m a member of the Judges’ Retirement System (JRS). Who will qualify for survivor benefits when I pass away?
Keep us posted on your statusQ. I’m a member of the 1977 Fund. If I remarry, do I need to change my beneficiary?
Three months, one quarter … it’s all the sameHere are some dates for submitting retirement applications to INPRS. For more information about retirement, visit our Web site at www.inprs.in.gov.
|If your retirement
|July 1, 2012||April 1, 2012|
|Aug. 1, 2012||May 1, 2012|
|Sept. 1, 2012||June 1, 2012|
|Oct. 1, 2012||July 1, 2012|
|Nov. 1, 2012||Aug. 1, 2012|