Your retirement is a game worth winning

INPRS
Retirement and Investment Education
Current: Retirement Planning Deck

Meet your winning hand

Retirement planning shouldn’t be a game of chance. Instead of leaving it to luck, focus on four key areas where a little care and attention today can make the difference between a weak pair and a winning hand. Click the icons below to discover the four suits in your INPRS Retirement Planning Deck and how mastering them can up the ante on your retirement strategy.

Unexpected luck is great. Who doesn’t love drawing the perfect hand in a card game or finding money in an old pair of pants? Unfortunately, you can’t always depend on luck, especially when it comes to retirement planning. Lucky for you, INPRS has some resources to help you boost your retirement confidence.

New to INPRS-covered employment? Choose your retirement plan!

If you’re a new employee that needs to decide between the PERF Hybrid or PERF My Choice Plan read this article to help make this important decision easier.
If you’re a new teacher who needs to decide between the TRF Hybrid or TRF My Choice plan, use this checklist to help guide your future retirement.
If you’re new to one of our other plans, read up on your plan details so you can start your career with clarity.
- 1977 Fund | Excise, Gaming, & Conservation Officers | Judges | Prosecuting Attorneys

Learn how to make your pension work for you.

Keep your personal information updated with INPRS.

Life is full of changes but taking the time to keep us up to date now can make your future retirement an easier process. If you’ve moved, changed your relationship status, switched jobs, or welcomed a child, it may be time to update your INPRS profile. We know you’re busy, so here’s a link to start updating your information now!

PERF and TRF Hybrid members: Consider boosting your retirement income with a service credit purchase

Click here to learn more about eligibility, how much it costs, and how to request a service credit purchase estimate.

Leaving INPRS-covered employment?

If you’re ready for your next chapter, we’re here to help you navigate this important move with care. Click here for PERF, TRF, or LE DC members or click here for 77 Fund, JRS, EG&C, or PARF members.

Life is like a game of chutes and ladders and with the highs, come the lows. Sitting down to discuss your family’s future, especially about death and finances, can be a difficult conversation to have, let alone schedule. However, doing so can improve your overall well-being, reduce anxiety about the future, and safeguard your loved ones’ financial security, no matter what the future holds.

How will my survivor or beneficiary know what to do when I pass?

Our recently updated webpage is a great starting point for anyone wanting to learn more about the survivor and beneficiary process. Review this information with your loved ones and learn about death benefit details from our handbooks and the three main steps to expect in our death benefits process.

How else can I prepare my survivor or beneficiary?

While sharing the information about death benefits is important, it doesn’t end there. Click here to discover how one INPRS survivor found unexpected help when planning for their retirement, and a list of additional items to discuss with your loved ones.

How can I manage caregiving costs?

Click here to read our article that covers eligibility for INPRS plan features like Millie Morgan retirement, early retirement, and the Retirement Medical Benefits Account (RMBA). If these features don’t apply to you, check out AARP's resources for caregivers by state, as well as their free guides.

How can I prepare my child for financial independence?

Click here if you’d like guidance on raising your children with a smart spending mindset and the initiative to save and invest early. Our article covers essential information for young adults just entering the world of student loan management, budgets, and covering expenses.

You don’t know which chips you’ll be dealt, but you can count on the need to save for healthcare expenses in retirement. Learn from others who have played the game of retirement before you: spending patterns show an uptick during late retirement when healthcare costs are higher. If you’re a full-time employee, your health insurance has likely been covered by your employer. This changes when you retire, so it’s important to plan for how you’ll cover healthcare expenses when you stop working. Here are some options to explore:

Health Savings Account (HSA)

An HSA might just be the winning advantage to help you beat healthcare costs. HSAs allow you to save money for eligible health-related expenses that are out-of-pocket. They even offer tax-free contributions, growth, and withdrawals. If you’re enrolled in a high-deductible health plan (HDHP) and meet IRS requirements, you could be eligible to open an HSA. Some employers offer HSAs in their benefit package. Click here to learn more about the advantages.

State of Indiana Employees: Retirement Medical Benefits Account (RMBA)

The RMBA is a health reimbursement account for medical, dental, vision and long-term care insurance premiums available to qualifying state employees who retire from their eligible positions. It can also be used for covered dependents such as the legal spouse or dependent child or children, even in the event of the participant’s death. For more information about the RMBA, click here.

Medicare

If you retire before the age of 65, you’ll need to secure and pay for your own health insurance before being eligible for Medicare. Some INPRS members use the systematic withdrawal option from their DC account to help cover these costs. Once you reach age 65, you may qualify for Medicare. Visit medicare.gov to determine which coverage option is best for you. If you’re approaching your 65th birthday and could use some help with Medicare, check out AARP’s Medicare Enrollment Guide.

TRF-sponsored Anthem plans

There are three Medicare Advantage with prescription drug coverage plans for TRF retirees. For the three-plan summary, click here . For questions about this plan, call (833) 848-8729, Mon. through Fri., 8 a.m. to 9 p.m. EST.

The difference between winning and losing can come down to managing risks, adjusting your strategy, and knowing when to hold back or go all in. Whether you’re just starting to build your nest egg or looking for the best budget for your needs, the moves you make today impact your retirement readiness. No matter your journey, the best retirement game plans are built on care and preparation. Ready to level up? Let’s explore some winning tactics.

Start or revise a budget

When you set a great savings rule and stick to it, you reap the benefits of being prepared when unexpected expenses arise. You might even end up saving enough to retire sooner than you’d expected. The 80/20 rule and the 50/30/20 rule share a common trick: save 20% of your income. What to do with the rest is up to you, but each article will give you some pointers.

Dig yourself out of debt

If you find yourself up to your eyes in debt, it could feel like you’re sure to lose. Click here for some tips that can help you see your financial picture more clearly and find inspiration and ideas to help you dig yourself out.

Explore more ways to save

The more you play the game, the more strategies you develop that can increase your chances of winning. Growing extra savings can be the winning advantage when you’re ready to retire. Click here to learn more about saving with your INPRS DC, a certificate of deposit (CD), a traditional or high-yield savings account, and a money market account. If you’re considering an IRA, click here to learn about four key benefits.

Prevent fraud and protect your wallet

October is also Cybersecurity Month, and protecting your wallet is more important than ever. INPRS imposters are your opponents in the game of cybersecurity. They’ll try to wipe out your savings while wearing the perfect poker face. Click here to learn more about avoiding their tricks!