Whether you’re moving to a new opportunity, changing industries, or taking time to explore what’s next, leaving your current position marks an important milestone.

With the excitement of new possibilities comes some crucial questions: What happens to the retirement funds you’ve been building? Are you eligible for full benefits when you retire, and if so, when can you take a distribution? Let’s walk through what your departure means for your retirement account so that you can move forward with confidence and clarity.

Regardless of your plan type, ensure your contact information is updated if you move or change your email address.

Log in to your account at myINPRSretirement.org, select “Personal Information” from the top right menu under your name to update your mailing address or “Communication Preferences” to update your email address.

Keep your beneficiaries updated.

Members of the 1977 Police Officers and Firefighters’ Fund can modify their beneficiaries by completing a Beneficiary Designation form here.

Members of the Prosecuting Attorneys’ Retirement Fund (PARF), Excise, Gaming and Conservation Officers’ Plan (EG&C), and Judges’ Retirement System (JRS) can modify a beneficiary by filling out the Application for Change of Beneficiary – Active Member form here.

How long you’ve been in your INPRS-covered position determines if you’re fully vested.

Check out your plan’s specific vesting schedule to know if your years of service make you eligible for full benefits when you retire.

77 Fund

You’re vested with 20 years of active service. You’re eligible for retirement benefits if you’re vested, are at least age 52 (for unreduced benefits) or 50 (for reduced benefits), and have separated from covered service.

JRS

You’re vested with eight years of active service. For unreduced retirement benefits, you’re eligible if you’re vested and are at least age 65 or meet the rule of 85 (you are at least 55 and your age and years of service total 85). You may qualify for reduced retirement benefits if you’re vested and between the ages of 62 and 65.

EG&C

You’re vested with 15 years of active service unless you enroll in the EG&C plan after age 50. If you enrolled after age 50, you’re vested with 10 years of creditable service. For unreduced retirement benefits, you’re eligible if you’re vested and age 50 with 25 years of service, age 60 to 65 with 15 years of service or 10 years of service if you enrolled at age 50 or older or meet the rule of 85 (you are at least 55 and your age and years of service total 85). For reduced benefits, you’re eligible if you’re vested and at least age 45 with 15 years of service or 10 years of service if enrolled at age 50 or older.

PARF

If you were in a PARF-covered position on July 1, 2006, or began serving in a PARF-covered position after July 1, 2006, you’re vested in your PARF benefit after completing eight years of creditable service. If you completed PARF-covered employment before July 1, 2006, and did not return to a PARF-covered position after July 1, 2006, you must complete 10 years of service to be vested.

For unreduced retirement benefits, you’re eligible if you’re vested and age 65 or meet the rule of 85 (you are at least 55 and your age and years of service total 85). See the PARF Member Handbook for more information about early retirement with a reduced pension benefit and PERF Hybrid retirement for PARF members.

Know when you can start using your retirement funds.

Another thing to explore is your plan’s timeline for retirement distribution.

77 Fund

If you separate from employment in a 77 fund-covered position for a reason other than death or disability before completing 20 years of active service, you may apply for a distribution of your contributions plus interest at a rate specified by the INPRS Board of Trustees. The interest rate is set at least yearly, and active members are credited at least yearly based on the prior fiscal year-end balance. You may also leave your contributions invested with the fund. They can be withdrawn anytime if you’re not vested in a pension benefit. See the 77 Fund Member Handbook for more details.

JRS

If you leave your JRS-covered employment, you may be eligible to withdraw your member contribution account balance, depending on which system you served as a judge. If you served in the 1977 JRS system, you may withdraw participation from the fund if you terminate employment and have less than 12 years of service credit. If you served in the 1985 JRS system, terminated employment (other than by death or disability), have less than eight years of active service, and you’re not eligible for a retirement benefit, then you may withdraw the total sum of your member contribution account. See the JRS Member Handbook for more details.

EG&C

If you’re not age-eligible for a retirement pension and separate from employment in an EG&C Plan-covered position for a reason other than death or disability before completing 15 years of active service (or 10 years of service credit if you become a participant after age 50), you may apply for a distribution of your contributions plus interest at a rate specified by rule by the INPRS Board of Trustees.

If you’re age-eligible for a retirement pension and separate from employment in an EG&C Plan-covered position for a reason other than death or disability after completing 15 years of active service (or 10 years of service credit if you become a participant after age 50), you may apply for your retirement pension benefit. You will not be eligible for distribution of your contributions because they are used to fund your retirement pension benefit. See the EG&C Member Handbook for more details.

PARF

You may take a distribution if you end employment in a PARF-covered position before you are vested in a retirement benefit. Upon withdrawal of total contributions plus interest, you forfeit the right to this service credit in the PARF plan unless you return to a PARF-covered position and pay into the fund the full amount received at the time of distribution plus interest at a rate specified by the INPRS Board of Trustees. This service credit will not be reinstated if you become an active member again later. See the PARF Member Handbook for more details.