My Choice Second Chance
As of July 1, 2026, all active vested members of the TRF My Choice Retirement Savings Plan (TRF My Choice Plan) and active vested members of the PERF My Choice Retirement Savings Plan (PERF My Choice Plan) whose employers allow this election may end their My Choice membership and elect to participate in the TRF Hybrid or PERF Hybrid Plan. This new election option is called My Choice Second Chance.
For TRF Employers:
Your employees participating in the TRF My Choice Plan have an exciting new option available to them: Starting July 1, 2026, active employees vested in the TRF My Choice Plan can change their retirement plan membership to the TRF Hybrid Plan. This new election option is called My Choice Second Chance.
This Second Chance is not a do-over. Members changing from the TRF My Choice Plan to the TRF Hybrid Plan will retain the funds in their My Choice account and will begin earning service in the TRF Hybrid Plan.
There is no time limit for active employees to make the choice to change their retirement plan membership to the TRF Hybrid Plan or to purchase service in the TRF Hybrid Plan.
This Second Chance to choose the TRF Hybrid Plan may improve retention, boost satisfaction, and increase engagement among your employees.
Purchasing Service
Employees may use the funds in their My Choice account to purchase TRF Hybrid Plan service up to the years of participation they earned in the My Choice Plan in full year increments. Employers can purchase service for their employees, too. Members are not required to purchase service at any time. Members may choose to purchase service at any time during active employment after they have earned at least one year of Hybrid service.
Purchasing service may be a significant cost to the employee. INPRS is working to provide a calculator to estimate the cost of purchase, but it is not yet available. For now, encourage employees to use the TRF Service Purchase Calculator, using the “Substitute Teaching” service type to get an approximate one-year estimate. This estimate is not official, but it will give the member an idea of the cost.
For Employees with Prior Hybrid Service
Members with prior TRF and/or PERF Hybrid service credit would retain their years of service. Prior service, purchased service associated with this change, and any newly earned service will combine toward the members’ vesting requirement in the TRF Hybrid Plan.
Supporting You and Your Employees
There’s nothing you need to do to allow this option for your TRF My Choice Plan employees, but your engagement is essential to successfully moving your employees to the TRF Hybrid Plan.
This new option enhances the value and flexibility of your employees’ INPRS benefits. Employees choosing the TRF My Choice Plan now have peace of mind that they can move to the TRF Hybrid Plan in the future if doing so aligns with their goals.
INPRS is here to support you and your employees as they learn about this Second Chance option, complete the necessary form, and consider their service purchase options.
Making the Change
Your employees are responsible for initiating the change from the TRF My Choice Plan to the TRF Hybrid Plan. To elect Second Chance, they must:
- Follow the instructions on this form (PERF-TRF My Choice Second Chance Member Election (State Form 9900433), then
- Bring the form to their employer to complete, then
- The employer will be responsible for listing the effective date of the election and submitting the form to INPRS.
You will list the effective date of this election on your employees’ form. This date:
- Must be the 1st day of a payroll period, and
- Does not have to be the next payroll period, and
- Cannot be retroactive.
The date must also be before wages and contributions for that cycle are reported to INPRS. If you need help confirming this date, please call the EA Team.
PERF My Choice Second Chance:
Your organization has an exciting new option available to increase the value of your INPRS retirement benefits for your employees: Starting July 1, 2026, PERF employers offering both the PERF My Choice and Hybrid Plans can update their resolution with INPRS to allow their employees vested in the PERF My Choice Plan to change their retirement plan membership to the PERF Hybrid Plan.
This Second Chance is not a do-over. Members changing from the PERF My Choice Plan to the PERF Hybrid Plan will retain the funds in their My Choice account and will begin earning service in the PERF Hybrid Plan.
There is no time limit for active employees to make the choice to change their retirement plan membership to the PERF Hybrid Plan or to purchase service in the PERF Hybrid Plan. This Second Chance to choose the PERF Hybrid Plan may improve retention, boost satisfaction, and increase engagement among your employees.
Purchasing Service
Employees may use the funds in their My Choice account to purchase PERF Hybrid Plan service up to the years of participation they earned in the My Choice Plan in full year increments after they have earned one year of Hybrid service. Employers can purchase service for their employees, too. Members are not required to purchase service at any time. Members may choose to purchase service at any time during active employment after they have earned one year of Hybrid service.
Purchasing service may be a significant cost to the employee. INPRS is working to provide a calculator to estimate the cost of purchase, but it is not yet available. For now, encourage employees to use the TRF Service Purchase Calculator, using the “Substitute Teaching” service type to get an approximate one-year estimate. This estimate is not official, but it will give the member an idea of the cost.
For Employees with Prior Hybrid Service
Members with prior TRF and/or PERF Hybrid service credit would retain their years of service. Prior service, purchased service associated with this change, and any newly earned service will combine toward the members’ vesting requirement in the PERF Hybrid Plan.
Supporting You and Your Employees
INPRS is here to support you and your employees as they learn about this Second Chance option, complete the necessary form, and consider their service purchase options.
This new option enhances the value and flexibility of your employees’ INPRS benefits. Employees choosing the PERF My Choice Plan now have peace of mind that they can move to the PERF Hybrid Plan in the future if doing so aligns with their goals.
Making the Change
Employers must offer both the PERF Hybrid Plan and PERF My Choice Plan to offer this option. Employers must update their resolution to offer this option to their PERF My Choice Plan employees.
Once your resolution has been updated with INPRS to allow this option, your active employees in the PERF My Choice Plan will be able to make this change once they reach vested status in the PERF My Choice Plan.
Your employees are responsible for initiating the change from the PERF My Choice Plan to the PERF Hybrid Plan. To elect Second Chance, they must:
- Follow the instructions on this form (PERF-TRF My Choice Second Chance Member Election (State Form 9900433), then
- Bring the form to their employer to complete, then
- The employer will be responsible for listing the effective date of the election and submitting the form to INPRS.
You will list the effective date of this election on your employees’ form. This date:
- Must be the 1st day of a payroll period, and
- Does not have to be the next payroll period, and
- Cannot be retroactive.
The date must also be before wages and contributions for that cycle are reported to INPRS. If you need help confirming this date, please call the EA Team.
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