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Destination: Retirement - Winter 2023 ('77 Fund JRS PARF and EG&C)

You've earned your vested status

What that means and where to go from here

You’ve probably heard the phrase “vested status” whispered around your department’s hallways, mentioned on your annual statement, or discussed during an INPRS virtual workshop, but what exactly does it mean? If you’re not quite sure what vesting is, how to get there, or why this could be a lynchpin in your retirement strategy, don’t worry. INPRS will help you understand why vesting is essential in shaping your retirement plan and financial future.

[To put it simply, vesting is the minimum amount of time you must work in one or more covered positions to qualify for a benefit from a retirement fund.]
  • Members of the Prosecutors’ and Judges’ plans must have a minimum of eight years of service to be vested.
  • Members of the 1977 Police Officers and Firefighters’ Fund must have a minimum of 20 years of covered service credit, be at least age 52, and have separated from employment to receive unreduced benefits.
  • As a member of the Excise, Gaming, and Conservation Officers’ fund, you must have at least 10 years to be vested if you entered the plan after age 50, and in most cases will need 15 years to be fully vested if you entered the plan before age 50.

Once vested, you are entitled to benefits once you meet the age and service requirements for either early or regular retirement.

If you are nearing retirement eligibility, are ready to retire, or want more information regarding your options and the retirement process, register for a one-on-one appointment or webinar at

Check your progress toward vesting on your Annual Member Statement, available on your secure online account at Learn to calculate your retirement benefit and date using INPRS's interactive benefit estimate calculators by visiting

View your member handbook available here to learn more about vesting for your specific plan. To check your earned years of service credit or verify your vested status, contact our Member Advocate Team at (844) GO-INPRS or (844-464-6777) or email us at

Contribution rates approved by INPRS Board

The INPRS Board of Trustees approved employer contribution rates for several of INPRS’s plans during the Oct. 28, 2022, Board of Trustees Meeting.

Total Contribution Rates Effective 1/1/2024 (Calendar Year 2024 [CY24])
2024 (new)
'77 Fund

The ’77 rate increased largely due to liability losses driven by faster-than-expected salary growth. EG&C rates remained the same from the prior year.

Appropriation Requests

These are the amounts that INPRS will request as part of the budgetary session that takes place in early 2023. The Indiana General Assembly will have the final word on how much is to be approved for each fund; these are the amounts to be requested.

 Current BienniumUpcoming Biennium (new)
 FY 2022FY 2023
FY 2024
FY 2025
LE DB182,512182,51211

LE DB has no official funding requirement for the FY 2024 – FY 2025 biennium. The $1 per year request is a placeholder in case additional funding is needed due to adverse experience.

JRS amount above includes an assumed $7,153,000 of court and docket fees.

Supplemental Reserve Accounts

The INPRS Board approved the following surcharge rates for the supplemental reserve accounts, starting Jan. 1, 2023:

2023 (new)

EG&C has reached its statutory cap of 1.00% of payroll and cannot increase further.

Start the year off safe and secure

Register for an INPRS PIN, protect your INPRS account!

Did you know a health benefit exists for most state employees when they retire? Well, if you did, that’s awesome, but if you didn’t, we have some good news for you.

Sign up for INPRS online account access to view your fund status and your contributions. When you sign up, you will be asked to prove your identity by providing personal information and a Personal Identification Number (PIN) that was provided to you in the security mailer you received from INPRS.

If you don’t have a PIN, visit, click 'Register Now', and follow the links to request one. If you have forgotten your PIN but have previously registered your account, you may request a new PIN to be delivered to the mobile number, email, or U.S. Mail address on file by clicking the 'Request new PIN' on the 'Register Now' page, or by calling (844) GO-INPRS or (844-464-6777).

Creating your INPRS PIN safeguards against unwarranted account access and defends your personal and financial data from identity thieves and fraudulent activity. If you still don’t have your PIN, don’t wait; sign up to receive your INPRS PIN today!

2022 INPRS Annual Report

INPRS’s most recent Annual Comprehensive Financial Report (ACFR) is now available. Stay up to date on INPRS’s financial performance, investment returns, fund information,  and more for the fiscal year ending June 30, 2022.

View INPRS’s successes, investment holdings, and other exciting INPRS-related news by reading our latest 2022 INPRS Annual Report. Compare this and previous years’ data by viewing prior Annual Reports, available on our website under the 'Publications' tab.

State Employees: Cover health-related costs in retirement with peace of mind

Did you know a health benefit exists for most state employees when they retire? Well, if you did, that’s awesome, but if you didn’t, we have some good news for you.

If you’re a full-time employee in one of the following positions, you’re eligible for the Retirement Medical Benefits Account (RMBA). If you work as a:

  • An employee of the executive, legislative, or judicial branch of state government;
  • A state-elected officer;
  • An appointed officer who is appointed to fill State elected office vacancies;
  • Certain police officers of the executive branch (eligible for medical benefits); or
  • A member of the Indiana General Assembly, you are eligible for the RMBA.

The RMBA is a health reimbursement program for medical, dental, vision, and long-term care insurance available to qualifying state employees who retire from their eligible position. Please note that if you choose to quit your job before you’re eligible to retire, you forfeit your eligibility in this program. Here’s what you need to know:

  • If you're a qualifying employee, understand the RMBA and how you can receive benefits upon retirement.
  • Understand that quitting your covered position will result in your forfeiture of membership in RMBA unless you are already age and service eligible for normal retirement when you quit. If you are close to retirement eligibility, consider if retiring from your covered position could be in your best interest.
  • Plan details and frequently asked questions are available here.

Take a moment to learn about the RMBA and your options when you have time. If you have questions, please contact INPRS at (844) GO-INPRS or (844-464-6777).

5 Tips for making smart investments this year

Building wealth this year needs focus and dedication because investment trends have changed as people develop creative ways of making money. You need to remain focused, dedicated, and with the right knowledge to make a great investment that will give you a bang for your buck.

Fortunately, there are many investments you can make and generate great returns. However, you need to understand various smart investment tips that will work in the current environment. Otherwise, you may invest and fail to make an impact, thus, wasting your time and resources.

Discover some helpful tips to guide you in making a great investment this new year from Voya. Read on here:

Source: Voya Financial

Virtual retirement planning opportunities from INPRS

Take the guesswork out of planning and saving for retirement... the INPRS way!

Our Retirement and Financial Education team is here to help you with your ideal retirement. Start planning and saving today by attending one of our many workshops designed to help you on your journey to retirement.

INPRS offers educational webinars on Asset Allocation, Budgeting and Saving, Retirement Workshops, Understanding Your Plan for PERF and TRF members, and 1977 Fund Police and Fire. One-on-One Counseling appointments are available, also. By attending a webinar, you will learn the following:

  • How your retirement plan works;
  • Investments and asset allocation;
  • What features and benefits are available;
  • Budgeting and saving for multiple goals;
  • Important information to help you plan and save for retirement.

Workshops take place as frequently as weekly, so you’ll never miss out. To register, visit:

Every attempt has been made to verify that the information in this publication is correct and up-to-date. Published content does not constitute legal advice. If a conflict arises between information contained in this publication and the law, the applicable law shall apply.

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