Lights...Camera...Action!

Picture this, you’re sitting in a theatre, popcorn bucket on your lap, a cold drink in hand, awaiting a much-anticipated smash hit on the silver screen, but before the movie starts the lights dim. You hear a deep, gravelly voice offscreen that announces, “Coming soon to a theatre near you!” Then rolls the trailer of films to come before the big movie begins.

While it may not be that grandiose, we at INPRS like to consider the big picture when it comes to your retirement. And much like the opening trailers before a feature film, your Annual Member Statement (AMS) serves as a preview of the blockbuster that is your retirement. Members of the PARF, ’77 Fund, Judges, and EG&C plans will receive their AMS’s this fall by mail and on their secure online accounts. These statements display account and service data from July 1, 2023, to June 30, 2024. This snapshot of your account can help you calculate your potential retirement income and help determine if you are on pace for your dream retirement.

After you receive your annual statement, review your data to make sure the information we have on file is up to date. Verify your:

• Contact information
• Latest salary data
• Listed beneficiaries for this plan
• Total years of service

If the information we have is incorrect or outdated on your statement, you can log in to your secure online account to make updates to contact and demographic information; beneficiary information must be updated by submitting a form (links below). If unable to make corrections or unsure how, contact our Member Advocate Team at (844) GO-INPRS or (844-464-6777) or email us at questions@inprs.in.gov.

Beneficiaries (survivors) for the plan are statutorily set.

Judges

Eligible designated beneficiaries are your spouse and dependent children; any payment due at time of death is payable to your designated beneficiaries or your estate. Members can name or update a beneficiary by completing the Application for Change of Beneficiary – Active Member form (print: available at bit.ly/excisebene).

PARF

Eligible designated beneficiaries are your spouse, dependent children or a trust for their surviving dependent children; any payment due at the time of death is payable to your designated beneficiaries or your estate. Members can name or update a beneficiary by completing the Application for Change of Beneficiary – Active Member form (print: available at bit.ly/excisebene).

EG&C

Eligible designated beneficiaries are your spouse, dependent children or parents; any payment due at the time of death is payable to your designated beneficiaries or your estate. Members can name or update a beneficiary by completing the Application for Change of Beneficiary – Active Member form (print: available at bit.ly/excisebene).

1977 Fund

Beneficiaries are set by law and are not subject to personal choice if you die before receiving a retirement benefit. If you reach retirement age and do not have a beneficiary, are not receiving a disability benefit, and the board has not returned your member contributions, you may designate one or more beneficiaries to receive contributions. Contributions will be paid to your estate if no eligible survivor or beneficiary is designated. Members of the 1977 Police Officers and Firefighters’ Fund can designate a beneficiary by filling out a Beneficiary Designation form (print: here, bit.ly/77fundbene).

Waiting to make changes to your account information when the retirement application is submitted can delay the review process. Please note that each plan has separate rules and requirements about who can be named beneficiary and in what circumstance.

Your INPRS account is your ticket to financial fame and stardom. When retirement comes knocking on your door, make sure you’re ready for your close-up!