The Indiana Public Retirement System is among the largest 100 pension funds in the United States. The fund serves about 447,000 members and retirees representing more than 1,400 employers including public universities, school corporations, municipalities and state agencies.
The INPRS has administratively made changes to PERF/TRF, set to take effect July 1, 2014, which will most likely decrease the expected benefit for future retirees. The long-term rate of return assumption will be reduced from 7 percent to 6.75 percent, while the annuitization of members’ ASA account funds will be contracted out to a private vendor. Both of these changes will have a significant effect, especially on those nearing the retirement age.
The Indiana State Teachers Association will host an information session to provide up-to-date information on the proposed changes to PERF/TRF. The session will be at 5 p.m. Tuesday at the Anthis Career Center auditorium. ISTA’s chief lobbyist, Gail Zeheralis, will be the speaker. All members of PERF/TRF and their spouses are welcome.
ANITA VERNON UniServ director Indiana State Teachers Association Fort Wayne