Guaranteed Fund to be replaced by Stable Value Fund

The Guaranteed Fund investment option for PERF and TRF members is going away. What do members need to do? Members who have Annuity Savings Account (ASA) contributions going to the Guaranteed Fund or members whose ASA contributions are already in the Guaranteed Fund will have until Dec. 31, 2016 to make changes to their investment options. Assets in the Guaranteed Fund after Dec. 31, 2016 will default to the Stable Value Fund.

Visit this page to read the information that was sent to members who still have contributions going to the Guaranteed Fund.

Members may choose to invest their ASA in any of our other seven investment options. For more information, members can go here.

Annuity calculations change in 2017

We're changing the way we calculate annuities beginning Jan. 1, 2017.

The legislatively mandated floor of 4.5 percent INPRS currently uses in our calculation will expire at the end of 2016. The annuity crediting rate will be 3.08 percent for Jan. 1, 2017 through March 31, 2017.

Read More/Close

Don't forget about your RMD

Do you still have funds in your Annuity Savings Account (ASA)? If so, the Internal Revenue Service (IRS) has a distribution requirement for your ASA. It's a Required Minimum Distribution (RMD) based on age and employment status.

You may have to take an RMD if you will be:

  • at least 70½ years old by Dec. 31, 2016, and not working in a PERF or TRF covered position;
  • OR, will be 70½ years old by Dec. 31, 2016, and not working for an employer that contributes to PERF or TRF.

For more information, visit the RMD Information page on our website here. If you have questions, please contact our customer service center at (888) 286-3544. Please address any tax questions that you may have with your tax advisor.

For tax filing purposes

It's almost the end of the year again. That means you’ll be receiving your Form 1099-R in the mail within the next few months. This form shows how much was paid to you in 2016 by INPRS and from what source. Internal Revenue Service (IRS) guidelines require us to mail this form by Jan. 31, 2017. We'll mail your 1099-R to the address we have on file for you.

If you received more than one type of distribution in the past year, we're required by federal law to send a separate 1099-R for each source.

You should use your Form 1099-R when completing your tax returns. More information on 1099-Rs is available here. You may wish to contact your tax advisor regarding questions related to completing your tax return.

Is your address up-to-date?

If you've moved, you'll need to update your address with INPRS. You can view and update your address information from the Personal Information tab when you log in to your secure online account.

To log in to your online account:

  • Go here
  • Enter your most recently updated User ID and passcode
  • If you have never accessed your online account, use your Social Security number (SSN) for the User ID and the passcode that was previously mailed to you.

If you have questions, contact our customer service center at (888) 286-3544.