Coming Soon!! TRF Rate Change for Fiscal Year 2022-23
TRF My Choice and TRF Hybrid composite rates will change from 5.5% to a total of 6.0% effective July 01, 2022, through June 30, 2023. For TRF My Choice, the standard cost will be 6.0%, and the supplemental rate will be 0%. This will apply to the ERM payroll date of July 1, 2022, and after irrespective of the pay period dates or range. Please get in touch with your payroll vendors in advance to be prepared for the rate change.
To view more information about the employer communication rates, click here.
What do my employees need to know before I retire?
Retirement planning can be confusing and overwhelming, which is why our consultants are here to help. To help your employees better prepare for their destination to retirement, here are some things they can do to successfully transition into retired life.
For members just starting out in their career, it’s important for them to learn as much as they can about their retirement while they are young. We share many tools and resources to help you get started with retirement planning. In fact, many of our videos on YouTube share simplified information about everything and anything they need to know whenever it comes to being an INPRS member. Check out our YouTube channel here and our investment education webpage here.
For members who have time until retirement, encourage them to log in their INPRS account regularly and observe how their money is doing. They can take this time in their life to invest with one or more of our investment options. We provide fact sheets explaining each investment option’s portfolio, performance and the level of risk it takes if they were to choose the option. Check out our fact sheets here.
For members that are two years away from retirement, now is a great time for them to really sit down with their INPRS retirement services consultant and talk about what the next two years look like ahead. Encourage your employees to attend a retirement workshop or webinar. This is also a great time for them to learn how exactly to apply for retirement.
Meet Employer Advocate Christie Walker
Meet Employer Advocate Christie Walker! Christie has been with INPRS for over three years. She started as a Member Advocate and then moved to serve employers like you six months later. Christie now works as an Employer Advocate II, assisting with employer inquiries, working in the delinquency team, and leading the 1977 Fund Pension Relief team.
“I love [working on] solving complex issues and adjustments. Our employers are delightful, and they make working together a joy. I truly see the employers as an extension of our team.”
Do you have a question that needs answering? Give our Employer Advocates a call today at (888) 876-2707.
Reminders for ’77 Fund Employers
- Health insurance deduction forms need to be submitted two weeks before the end of the month for the deduction to be effective the following month. You do not need to submit a deduction form if the deduction amount has not changed, even if it’s a new year. If you have any questions, reach out to our Employer Advocate Team at (888) 876-2707.
- If you have an employee transfer to you from another 77Fund employer within 180 days, you only need to complete the intent to hire form. The original baseline application would have been submitted to the original employer and the baseline application is still valid during this time.