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Retiree News: Fall 2022

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Retiree Deborah White

Deborah White kept herself busy in her working years starting in the Attorney General’s office. Here, White worked in the unclaimed properties division where she harbored many tasks such as reviewing claims and communicating with the claimants. White worked in the unclaimed property division for four years, until she left to work for Governor O’Bannon in the Indiana Governor’s office.

There, White worked as the receptionist and switchboard operator. “We received 100 calls per day for constituents and directed them to the correct policyholders. We would log calls for House Bills and Senate Bills along with incoming calls and suggestions for the governor.”  White contributed her work at the governor ‘s office for another four years.

When White left the governor’s office, she went to work for the Public Employees Retirement Fund, now known as INPRS! INPRS was blessed with White’s talent in our Communication and Outreach Department for 5 years. You may have been welcomed by White as she helped members set up counseling appointments and helped answer any questions regarding retiree monthly benefits.

During White’s time at INPRS, she also worked for our state police and firemen in the 1977 Fund processing retirement and survivor benefits for police, fire, judges, and prosecutors. White’s final position at INPRS was an administrative assistant in the retirement and communications department. Her responsibilities were to greet members and retirees and assist them with setting up appointments, assisting them with I retired August 31, 2018.

Since White worked at INPRS, she knew a lot about the retirement process before retiring, but also received some help from our retirement counselors that answered her questions. “…the counselors were there to help me and guide me along the way. They made sure that I made my own decisions, but each counselor there helped me with any questions that I had so that’s how I initiated my retirement.”

White advises people that are planning to retire to do so when you are comfortable in your retirement plans both financially and personally. White prepared for her retirement by saving as much as she could to pay off as much financial debt as she could such as credit cards and loans so she could retire without a financial burden.

Before White retired, she had dreams to travel, visit with family, and be more involved within her church community. Thankfully, thanks to her successful retirement planning, White was able to accomplish all her dreams, and more!

You can find white volunteering at her granddaughter ‘s school, her church, and staying active at her local YMCA where she has met friends along the way.

“I am doing exactly what I wanted to do.” 

White has been enjoying all the freedom associated with her retirement.

“I get to do what I want to do and when I want to do it, get up as early as I want, be some of the first at the grocery without a crowd, and I can make doctors’ appointments early. I have lunch with my retired friends and friends who haven’t retired. I do spark of the moment things that I couldn’t do before I retired, I go on day trips, I am truly loving my retirement.”

INPRS would love to hear your retiree story. Submit yours by emailing us at and include your work history, what you’ve been up to in retirement, and a few photos for a chance to be featured in an upcoming newsletter.

Social Security Announces 8.7 Percent Benefit Increase for 2023

Social Security and Supplemental Security Income (SSI) benefits for approximately 70 million Americans will increase 8.7 percent in 2023. COLAs and 13th checks for INPRS retirees of the PERF and TRF Hybrid Plans, EG&C, and LE DB plan are determined by the Indiana General Assembly. Benefit increases for the 1977 Fund and Judges' Plan are mandated by each plan's rules.

The 8.7 percent cost-of-living adjustment (COLA) will begin with benefits payable to more than 65 million Social Security beneficiaries in January 2023. Increased payments to more than 7 million SSI beneficiaries will begin on December 30, 2022. (Note: some people receive both Social Security and SSI benefits)

Read more about the Social Security Cost-of-Living adjustment for 2023.

Source: Social Security Administration

1099s arrive in January

1099s will arrive in your mailbox and online any time after Jan. 31, 2022. Pay special attention to Box 7 of your 1099 to ensure it is appropriate for your situation. If the “early distribution-no known exception” box is checked and you believe there is an exception, please consult your tax advisor.

2021 Comprehensive Annual Financial Report

The 2021 INPRS Comprehensive Annual Financial Report (Annual Report) is available on our website at

Find out when you can expect your benefit payment from INPRS



Tuesday, January 3, 2023

Friday, January 13, 2023

Wednesday, February 1, 2023

Wednesday, February 15, 2023

Wednesday, March 1, 2023

Wednesday, March 15, 2023

Friday, March 31, 2023

Friday, April 14, 2023

Monday, May 1, 2023

Monday, May 15, 2023

Thursday, June 1, 2023

Thursday, June 15, 2023

Friday, June 30, 2023

Friday, July 14, 2023

Tuesday, August 1, 2023

Tuesday, August 15, 2023

Friday, September 1, 2023

Friday, September 15, 2023

Friday, September 29, 2023

Friday, October 13, 2023

Wednesday, November 1, 2023

Wednesday, November 15, 2023

Friday, December 1, 2023

Friday, December 15, 2023

Resources That Can Help You with Jumps in Energy Prices This Winter

If you could use assistance in paying your winter heating bills, help is available. The Energy Assistance Program (EAP) can help you pay your heat and electric bills. EAP is a federally funded program through the U.S. Department of Health and Human Services (HHS) called the Low-Income Home Energy Assistance Program (LIHEAP).

For more information, visit There, you can find how to get support, no matter what utility you receive service from.

Source: Indiana Housing & Community Development Authority

Updated Tax tables may impact your deposit

Your deposit may change in January due to updated IRS tax tables. When the tax tables are posted, we will send an email to retirees on our distribution list.

Reminder: New INPRS Lobby Hours

Planning to visit us soon? As of Oct. 3, 2022, our lobby hours are now 8:30 a.m. to 4:30 p.m. While our office hours have been updated, please know that our team is still available by phone from 8 a.m. to 8 p.m. We look forward to seeing and speaking with you!

Annual fee notice for those with active defined contribution accounts

If you’re like us, you’re eager to see the changes to your investment performance when you get your quarterly statement. When you review your statement, take note of the administrative and investment fees INPRS is required to add. While no one likes to pay fees, it’s important to understand what fees you are paying and why. We’re committed to only assessing the fees that are necessary for taking care of your account. INPRS does not profit from administrative fees. In fact, our fees are among the lowest you’ll find.

INPRS members pay two types of fees – an administrative fee and an investment fee (referred to as an expense ratio). Below we sum up what you need to know about administrative fees and expense ratios:

Administrative Fees

Expense Ratios/Investment Fees

  • PERF, TRF, and LE DC plan members pay administrative fees to cover the costs associated with managing their defined contribution (DC) accounts.
  • Administrative fees are $3.75 deducted directly from members’ DC account each month, for an annual charge of $45. This deduction is noted on your quarterly member statement. PERF and TRF Hybrid members will find the fee noted on their annual member statement.
  • INPRS’s member fee policy outlines the method used to determine administrative fees. You can find the fee policy online at
  • INPRS Defined Contribution (DC) Plan investment options each carry an “expense ratio.” An expense ratio measures how much you’ll pay over the course of a year to own an investment option. An expense ratio is expressed as a percentage for each investment option.
  • When you view your DC account, your online statement will show how much money you gained or lost, known as net of fees. All expenses are deducted from your investment option(s) before showing how much you gained or lost.
  • You will find that the expense ratios associated with INPRS are typically lower than retail investment offerings. For example, an INPRS member working for ten years starting at age 30 could have over $10,000 more in their DC account upon retirement than a retail investor with higher fees on the same investment amount and length of time. *
  • Click  here for further details on Expense Ratios and to view the Fee table

You can use the below equation to figure how many dollars you’re paying annually in fees:

Amount Invested (dollars) x Expense Ratio (%) = Fee

For example: if you have $10,000 in a fund with an expense ratio of 0.12%, you’ll pay $12 per year in fees. 

View your investment options and their associated expense ratios by logging into your secure online account at

* The above example assumes a $1,000 annual investment for 10 years at year-end, starting at age 30 and investing until age 65. Both scenarios assume an 8.00% gross return with an INPRS return of 7.90% net-of-fees and a competition return of 7.53% net-of-fees. The rate of return is an assumption and is not a guarantee of performance.

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