As a State of Indiana employee, it is important for you to consider your retirement planning options. To help simplify this process, all eligible employees hired by the State are automatically enrolled in the Indiana Deferred Compensation and matching plan known as Hoosier START.
Changes coming in 2024
- Notice of Fee Increase: Beginning in 2024, the participant fee charged by the State of Indiana to administer this Plan will increase from $51.00 to $54.00 per year (or from $12.75 to $13.50 per quarter). The total annual increase is $3.00, which will be listed on each participant’s quarterly member statement under Fees/Charges in Quarterly Activities section. The increase will be reflected on the first quarter 2024 statement.
- Self-Directed Brokerage Option: Coming in 2024, Hoosier START will be adding a self-directed brokerage option through Schwab.
Some of the benefits of the Plan include:
- Deferring taxes on your contributions and earnings
- Potentially growing your nest egg through compound growth
- Easily accessing a variety of investment options
Hoosier START offers an easy way to begin saving for your preferred retirement lifestyle. Your Indiana Public Retirement System (INPRS) plan is separate from Hoosier START – to learn more about INPRS, visit www.in.gov/inprs
As the Hoosier START plan sponsor, the State Comptroller collaborates with Nationwide, our third-party administrator, to help employees find ways to save and invest for their retirement.
Contact Hoosier START
- Phone: 855-277-4432
- Email: HoosierSTART@nationwide.com (don’t include your personal information, such as Social Security Numbers or address)
- Additional contact information is available here