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2022-2023 Employer Contribution Rate Information

  • INPRS
  • Employers
  • Current: 2022-2023 Employer Contribution Rate Information

Employer Contribution Rate FAQs

TRF Hybrid Plan

The current rate is 6.0 percent and will remain at 6.0 percent from July 1, 2023, through June 30, 2024.

TRF My Choice Plan

Effective July 1, 2022, the total rate is 6.0 percent and will remain at 6.0 percent beginning July 1, 2023.

PERF Hybrid Plan

The composite rate for 2023 is 11.2 percent beginning July 1, 2022, and continues through June 30, 2024. As allowed by Senate Enrolled Act 549, this rate pertains to all PERF employers for 2023 and 2024.

PERF My Choice Plan

The breakdown of the PERF 2023 contribution rate (for state of Indiana employees) of 11.2 percent is 3.7 percent for normal cost and 7.5 percent for amortization of the unfunded liability effective July 1, 2022, through June 30, 2023. Those rates for the state of Indiana plan will remain the same from July 1, 2023, through June 30, 2024.

For Local Government (political subdivisions), employers choose how much to contribute to employee accounts, from 0 percent up to the normal cost of the fund. Beginning Jan. 2023, the normal cost will be 4.4 percent through Dec. 31, 2024.

In addition, political subdivisions must make a supplemental contribution toward the fund’s actuarial unfunded liability. Beginning Jan. 2023, this contribution rate will be 6.8 percent through Dec. 31, 2024.

Please note that the breakdown of the rate can change each year.

'77 Fund

The current rate is 18.0 percent through Dec. 31, 2023. The INPRS Board of Trustees voted on Oct. 28, 2022, to set the 2024 rate at 19.1 percent effective Jan. 1, 2024, through Dec. 31, 2024.

Excise, Gaming and Conservation Fund

The employer contribution rate is 20.75 percent as of Jan. 1, 2023, and will remain the same, effective Jan 1, 2024.

LE DC Plan

As of Jan. 1, 2023, the employer contribution rate will remain at 14.2 percent.

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