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Indiana Public Retirement System

Indiana Public Retirement System

Indiana Public Retirement System (INPRS) > My Fund > Teachers > Why Direct Deposit Why Direct Deposit

Why members should participate in Direct Deposit?

  • Checks are automatically deposited on the 1st of each month.
  • Members must wait until the 10th of the month to notify our office to reissue a lost paper check.
  • If the 1st of the month falls on a Saturday, Sunday or Holiday, checks are deposited the first business day BEFORE the 1st of the month. The only exception to this is on January 1st. Due to Federal tax regulations we cannot pay members before the 1st day of the new tax year. In January, deposits will be made on the 1st banking day of the new year.
  • Avoiding trips to the bank, filling out deposit slips and waiting in line.
  • Convenient and consistent deposit of earnings in spite of business absences, vacations or illnesses.
  • Security knowing benefit checks cannot be lost, stolen or forged.
  • Less risk of a lost or misdirected check by your financial institution.
  • More control over time and money because it is predictable and dependable
  • Helps protect member from identity theft
  • Member is not dependent on the mail being delivered in three business days (as checks are mailed three business days before the 1st).