Will I get a 13th check?
A bigger amount will soon show up in the bank accounts of INPRS members who are TRF retirees.
The 2012 Indiana General Assembly approved a one-time 13th check payment for INPRS members or their survivors or beneficiaries.
The amount of the 13th check is as follows:
 At least five years, but less than 10 years (disability) |
$150 |
| At least 10 years, but less than 20 years | $275 |
| At least 20 years, but less than 30 years | $375 |
| At least 30 years | $450 |
INPRS members who retired or were disabled on or before Dec. 1, 2011, and who are entitled to receive a monthly benefit on July 1, 2012, will receive a 13th check. The payment will be included in a member's monthly benefit payment in September.
The amount of the 13th check is based on years of service. A complete summary of legislative changes can be found on our Web site at www.inprs.in.gov.
There was no cost of living adjustment (COLA) increase approved for TRF members.
We've stopped the presses to go green
Say goodbye to the days of rummaging through your file cabinet to locate the retiree newsletter you filed away last summer. In January 2012, our newsletter officially became an online publication.
Conversion to an electronic newsletter has helped reduce significant costs associated with printing, and postage, which is beneficial to members.
You can access the newsletter at any time. The INPRS Web site is available 24/7.
Register to have your Retiree News sent directly to your e-mail address. Click on the "Sign up now" button on the top right of this e-newsletter.
Reducing economic risk by seeking better diversification
INPRS' Board of Trustees recently approved a new investment asset allocation aimed at maintaining the system's strong financial condition while better protecting it against unfavorable economic environments.
The new asset allocation is expected to:
- Achieve the actuarial expected rate of return over the long term
- Provide better diversification of risks, including less exposure to public equities (stocks)
The new asset allocation includes a strategy called risk parity, an approach to investment management that focuses on the allocation of risk instead of capital (money).
This is the first asset allocation specifically for INPRS, which was created with the July 2011 merger of the TRF and the PERF. "While the system's seven funds remain legally separate," said INPRS Executive Director Steve Russo, "we expect to find significant savings as we consolidate investment managers while implementing a new system-wide asset allocation."
Keep us posted!
If you've moved, you'll need to update your address with INPRS. You can view and update your address information from the Personal Information tab when you log in to TRF Interactive. To log in to your TRF Interactive account:
- Go online to www.inprs.in.gov and click on Member Login.
- Click on TRF Member Login.
- Enter your most recently updated User ID and passcode.
- If you have never accessed your online account, use your Social Security number (SSN) for the User ID and the passcode previously mailed to you.
If you have questions, contact our customer service center at (888) 286-3544, or e-mail us at
questions@inprs.in.gov.
What do I do here?
What else can I do on TRF Interactive? Log in to your account and go to any of the tabs below to do the following:
- Personal Information Tab
- View and update address information
- View and update beneficiary information
- My Account Tab
- Account Activity
- View Annuity Savings Account (ASA) balance (if deferred)
- View confirmation history (if any)
- View quarterly member statements (from prior to retirement, and forward (if deferred)
- If you deferred, you can transfer money between the investment funds
- Fund Information
- Review Fund Performance
- Review Fund Prices
- Resource Material
- Link to documents, Frequently Asked Questions (FAQs), etc.
- My Pension Benefit Tab
- Overview and Status
- Displays most recent payment info
- Links to 2010 and 2011 1099-R’s
- Payment Information
- Review payment schedule
- View direct deposit info
- View tax withholding elections
- View payment details (displayed by payment date)
- Confirmation History
- Displays confirmations for tax or direct deposit changes and their effective dates
- Resource Material
- TRF Pension Tab
- Prior years 1099-R (2009 and before)
If you have questions, contact our customer service center at (888) 286-3544, or e-mail us at questions@inprs.in.gov.
When can I expect my pension benefit check?
Benefit payment dates sometimes fall on a holiday or weekend. If that's the case, your pension payment is sent to your bank for deposit on the prior business day. Paper checks are mailed two to three days before a holiday or weekend.
INPRS has no control of your payment once it is placed in the mail. If you're not currently on direct deposit, you may consider it to ensure timely delivery and receipt of your payment.
Direct deposit eliminates waiting for the mail, standing in lines at the bank and the risk of a lost or stolen check. If your check is lost or stolen, it can take up to 20 days after your benefit payment date to receive a replacement check. Can you afford to wait? Take action now and get direct deposit. Ask your bank, savings and loan or credit union about questions regarding direct deposit. You may be able to open an account with little or no fees.
Download the Application for Direct Deposit to ensure you receive your check on time.
What's the new rate?
Beginning July 1, 2012, the Guaranteed Fund interest credit rate is 0.28 percent. This rate is established annually by the INPRS Board of Trustees. Click
here for the full story.
