What you should know about vesting

Not quite sure what vesting is, how to get there, or why this could be a key part of your retirement strategy? Well, INPRS’s team of Retirement Services Consultants is happy to help you understand why earning your vested status may be an essential piece in shaping your retirement plan and better yet your financial future.

[Put simply, vesting is the minimum amount of time you must work in one or more covered positions to qualify for a benefit from a retirement fund.]

• Members of the Judges’ plan must have a minimum of eight years of service to be vested.
• Members of the Prosecutors’ plan who completed service prior to July 1, 2006, will need 10 years of PARF service to vest; members who completed service after must have a minimum of eight years.
• Members of the 1977 Police Officers and Firefighters’ Fund must have a minimum of 20 years of covered service credit, be at least age 52, and have separated from employment to receive unreduced benefits.
• As a member of the Excise, Gaming, and Conservation Officers’ fund, you must have at least 10 years to be vested if you entered the plan after age 50, and in most cases, you will need 15 years to be fully vested if you entered the plan before age 50.

Once vested, you are entitled to benefits once you meet the age and service requirements for either early or regular retirement.

If you are nearing retirement eligibility, are ready to retire, or want more information regarding your options and the retirement process, register for INPRS’s virtual workshop, or meet with one of our Retirement Services Consultants.

Check your progress toward vesting on your Annual Member Statement, available on your secure online account at www.myINPRSretirement.org. Learn to calculate your retirement benefit and date using INPRS's interactive benefit estimate calculators by visiting www.myINPRSretirement.org/calculators.

View your member handbook available here to learn more about vesting for your specific plan. To check your earned years of service credit or verify your vested status, please contact our Member Advocate Team at (844) GO-INPRS or (844-464-6777) or email us at questions@inprs.in.gov.