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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 5.5 percent and will be 6.0 percent effective July 1, 2022, through June 30, 2023.

TRF My Choice Plan

The 2022 composite rate is 5.3 percent and the supplemental rate is 0.2 percent, for a total of 5.5 percent. Effective July 1, 2022, the 2023 total rate will be 6.0 percent.

PERF Hybrid Plan

The composite rate for 2022 and 2023 remains 11.2 percent beginning July 1, 2021, and continued as of July 1, 2022. As allowed by Senate Enrolled Act 549, this rate pertains to all PERF employers for 2022 and 2023.

PERF My Choice Plan

The breakdown of the PERF 2022 contribution rate (for state of Indiana employees) of 11.2 percent is 3.2 percent for normal cost and 8.0 percent for amortization of the unfunded liability effective July 1, 2021, through June 30, 2022. Effective July 1, 2022, the total contribution rate remains the same at 11.2 percent, with 3.7% being the normal cost and 7.5% for amortization of the unfunded liability.

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. Effective Jan. 1, 2022, the normal cost is 3.9 percent. Beginning in January 2023, the normal cost will be 4.4 percent.

In addition, political subdivisions must make a supplemental contribution toward the fund’s actuarial unfunded liability. Effective Jan. 1, 2022, the supplemental contribution is 7.3 percent. In January 2023, this contribution rate will be 6.8 percent.

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

'77 Fund

The current rate is 17.5 percent through Dec. 31, 2022. The INPRS Board of Trustees voted on June 24, 2022, to set the 2023 rate at 18.0 percent effective Jan. 1, 2023, through Dec. 31, 2023.

Excise, Gaming and Conservation Fund

The employer contribution rate is 20.75 percent as of Jan. 1, 2022, and will remain the same effective Jan 1, 2023.

LE DC Plan

As of Jan. 1, 2022, the employer contribution rate is 14.2 percent and will remain the same effective Jan. 1, 2023.

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