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Each quarter, you will receive a statement from PERF. It will tell you how much money you have to date in your Annuity Savings Account (ASA). The PERF statement does not include any information about a potential pension benefit.
Your pension benefit is not an amount in a separate fund. It is a promise to pay if you become eligible to receive the benefit at retirement. The amount is determined by how many years you have worked under PERF coverage, your wages, your age at retirement, and a multiplier set by Indiana law. You may review the formula in the PERF Member Handbook.
As you near retirement age, you can request a review of your service credit history and a benefit estimate, part of the formula for the pension benefit. You may also use the Benefit Calculator to give you an idea of how pension payment options might affect your monthly benefits.
Your ASA belongs to you. The statement shows you how much was deposited to your account in the past quarter, how much you have earned on your account in the past quarter, and how much you have accumulated as a total in the account. It will also show you what options your account was invested in during the quarter, and what the investment returns were for each available option.