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Indiana Public Retirement System

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

Mission

We advance the achievement of retirement security for current and future retirees and beneficiaries through our delivery of operational and investment excellence, exemplary customer service and trusted stakeholder communication.

Principles

  • Stewardship. We prudently invest and manage the assets held in trust for current and future retirees.  We rigorously identify, measure and manage risk.
  • Best in Class Operations. We efficiently deliver accurate, timely retirement benefit payments and related services with attentiveness to high quality customer service.
  • Trusted Source. We are our stakeholders’ trusted source of reliable, comprehensive information about retirement security and the role that Indiana Public Retirement System plays in the delivery of that security.
  • Collaboration and Shared Purpose. We value professionalism, teamwork and operational excellence to consistently improve the quality and sustainability of our services.

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
  • Prosecuting Attorneys’ Retirement Fund
  • 1977 Police Officers’ and Firefighters’ Pension and Disability Fund,
  • Legislators’ Retirement System
  • 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.