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Indiana Public Retirement System

Indiana Public Retirement System (INPRS) > About Us > Overview Overview

Vision

To be a 100 percent funded public retirement system trusted and valued by stakeholders.

Mission

Efficiently collect necessary contributions, manage assets and pay earned benefits.

Principles

  • Integrity. We hold ourselves accountable to the highest standards of ethical and professional behavior.
  • Stewardship. We prudently invest assets held in trust for current and future retirees. We wisely manage expenses to maximize value to our stakeholders. We rigorously identify, measure, and manage risk across the organization.
  • Service. We exist to serve our stakeholders with attentiveness to high quality, respectful customer service.
  • Trust. We are our stakeholders’ trusted source of reliable information. 
  • Collaboration. We seek out stakeholder input when establishing goals and setting priorities.

Overview

On July 1, 2010, the board of trustees of the Indiana State Teachers’ Retirement Fund (TRF) and the Public Employees’ Retirement Fund (PERF) was required to appoint and fix the compensation of a common director for TRF and PERF.

Legislation approving the merging of the administration of funds of the Public Employees’ Retirement Fund (PERF) and the Teachers’ Retirement Fund (TRF) was adopted by the General Assembly and signed by Gov. Mitch Daniels in April 2011. The creation of the Indiana Public Retirement System (INPRS) became effective July 1, 2011. Combined membership totals equal nearly 500,000 members.

Each retirement fund continues as a separate fund under the oversight of a combined INPRS nine-member board of trustees. Individual funded status for each will continue to be calculated separately.

INPRS will administer and manage the following plans:

  • Public Employees’ Retirement Fund
  • Teachers’ Retirement Fund -
    • Pre-1996 Account
    • 1996 Account
  • Prosecuting Attorneys’ Retirement Fund
  • 1977 Police Officers’ and Firefighters’ Pension and Disability Fund
  • Legislators' Retirement System -
    • Defined Benefit Plan
    • Defined Contribution Plan
  • Judges’ Retirement System
  • State Excise Police, Gaming Agent, Gaming Control Officer and Conservation Enforcement Officers’ Retirement Plan

INPRS will also oversee three non-retirement funds including the Pension Relief Fund, the Public Safety Officers’ Special Death Benefit Fund and the State Employees’ Death Benefit Fund.