New rates go into effect in July 2020
New employer contribution rates for the TRF Hybrid, TRF My Choice, PERF Hybrid, and PERF My Choice for the state of Indiana plans will go into effect July 1, 2020. For the details specific to your plan, click here.
All other INPRS plans’ rates change Jan. 1 of each year. Those rates can be found here.
Have you tried out our chat tool?
INPRS chat made its return at the beginning of June. Have you had a chance to try it out? Available during our normal business hours of 8 a.m. to 5 p.m. ET, the chat tool is an easy way to reach out to INPRS to get answers to your general questions while you continue to work or even take care of a phone call. Access the tool on this website. We can’t wait to chat with you!
Start planning for summer retirements
As seasons change, so do our employees’ career plans. Whether they’re tempted by the outlook of summers without work or they’ve been planning their retirement for years, INPRS sees a large amount of members selecting a retirement date during the warm summer months. While we’re excited to support them and our employers as they navigate this change, it’s also important to note a few things that you as an employer can do to help make this a seamless transition:
- Make sure to update your employees’ last day in pay (LDIP). This date is important because it helps determine when the member can receive their first retirement benefit check from INPRS. Without this date in ERM, they can’t get paid.
- Keep your entire roster up-to-date. If members are seasonal employees, accurate data is even more important. Few things are more disruptive than having to resurrect old employment dates from 20 years ago when someone is trying to get their retirement application processed. Take an afternoon to review the seasonal employees on your list and make sure their information reflects their true time worked.
- Take care of your missing member backlog. You may recall that we’ve talked a lot about missing members this past year, but that doesn’t mean they still aren’t important things to manage. Missing members start to appear on your roster when they don’t have any wages or contributions for a period of time and also do not have a life event submitted to help INPRS understand why there are no wages and contributions. Managing your missing member list now will help you and your employees have a better retirement experience in the future.
’77 Fund workshops – now available directly through employers
INPRS is now offering its ’77 Fund workshop as a resource directly to employers. In the past, we’ve offered this monthly to individual members through our webinar portal. Now, we’re available directly to employers like you to educate your employees in groups. We can work with you to ensure all of your shifts are covered on an annual or quarterly basis and can even set recurring meetings to make sure we present to your newest recruiting class.
Contact us via email to start the conversation. We look forward to presenting to your employees.
Every attempt has been made to verify that the information in this publication is correct and up-to-date. Published content does not constitute legal advice. If a conflict arises between information contained in this publication and the law, the applicable law shall apply.