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Indiana Public Retirement System

Indiana Public Retirement System

Indiana Public Retirement System (INPRS) > My Fund > Public Employees > PERF Hybrid Plan FAQs > Are my retirement benefits safe? Are my retirement benefits safe?

Your PERF benefits are guaranteed by the full faith and credit of the state of Indiana.

Speculation about Social Security, problems with the pension plans of now-bankrupt private companies, and changes in tax policies and in elected officials can create a climate of uncertainty about the future, including your Public Employees’ Retirement Fund benefits.

Pension benefits, like the lifetime monthly benefit portion of the PERF Hybrid plan, are attractive because the risk of investment lies with the plan administrator and the employer. Your benefits are calculated based on a formula set by state law and are guaranteed to be there when you need them at retirement. Your benefits are paid from the quarterly contributions your employer makes on your behalf and the investment earnings made by PERF. The provisions governing the fund guarantee that you will receive whatever monthly payment you have earned from the Defined Benefit part of the retirement benefits, beginning at the time you choose to retire and continuing for life.

Contributions made by you or your employer to your Annuity Savings Account are invested according to your investment direction so that you have the opportunity to “grow” your retirement funds. The Guaranteed Fund pays a guaranteed rate of interest, which is determined annually by the INPRS Board of Trustees. Other self-directed investment options cannot offer a guarantee of return. The options reflect the performance of diversified portfolios. Managers who oversee investments for PERF are carefully chosen for experience, integrity, and performance. A complete list of the managers currently managing PERF assets is available in the Investment section of this site.