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To be a 100 percent funded public retirement system trusted and valued by stakeholders.
Efficiently collect necessary contributions, manage assets and pay earned benefits.
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:
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.