My Choice: Retirement Savings Plan Member Handbook for State Employees: After Retirement
Tax forms, withholding and direct deposit elections must be made through MetLife.
Death of a Member
In the event of your death, a surviving family member should contact us. This allows us to stop your benefit payments and make payments to the named beneficiaries. We need a copy of your death certificate with your name, Social Security number and date of death. The family can keep the check received in the month your death, but they must return any later payments.
Please call and mail or fax a copy of the death certificate to INPRS. Include your name, relationship to the deceased member and your telephone number, so we can contact you for further information.
INPRS will verify the retiree’s death. We will then inform the surviving beneficiary what is needed so they may begin receiving their benefit.
For this reason, it is very important that you let us know your beneficiary’s current address.
DECLINING OR PASSING THROUGH A BENEFIT
Indiana law allows a beneficiary to decline a bequest or personal property. The law also decides how the bequest is handled if the beneficiary declines it. For more specific information on your situation, please contact INPRS directly.
Changing Your Beneficiary after Retirement
When you name a beneficiary or beneficiaries on your online retirement application and it has been processed, changes are only allowed in limited circumstances.
You are able to change your beneficiary of form of benefit as you see fit after you retire, even if you get divorced, unless it is prohibited in the divorce decree or property settlement agreement.
You can go back to work after you retire and still receive your My Choice: Retirement Savings Plan benefits. You must have ended service for at least 30 days if you return to a My Choice-covered position. For example, if you stop working on May 18, your retirement date is June 1. You qualify to re-employ in a My Choice-covered position on or after June 18. If you return to a My Choice-covered position within 30-days after ending service, your retirement is void.
Your application for retirement benefits is void if you have an agreement, formal or informal, prior to your retirement, with a covered employer to return to work in a covered position. Your effective retirement date is the first day of the month in which you received retirement benefits. There is no limit on earnings for retired members who return to work in a My Choice-covered position. Years of participation are no longer earned and no money is put into your account. If you retire from a My Choice-covered position and re-employ in a My Choice-covered position after 30 days, you can be re-enrolled in the My Choice: Retirement Savings Plan.
If you retired from another Indiana public pension fund (such as the 1977 Police Officers’ and Firefighters’ Retirement Fund) you do not have a minimum period of separation before taking a My Choice-covered position with the same employer if you are age 55 or older. If you are younger than 55, you must separate from service for 30 days before returning to work.