Page 4 - Spring2018PERFTRFNews

DO YOU KNOW YOUR BENEFICIARY OPTIONS?
o you have a good scan the QR code on the far each plan. Survivor bene ciary Need to update your understanding of who right to get details. pension calculation and eligibility bene ciary? Log on to
you can designate to will vary between retirement www.myINPRSretirement.org receive your INPRS It’s important to know the plans. and select “Personal Info” and
bene ts in the event of your difference between a DC within the dropdown menu, select
passing? It’s important to decide who your de ned contribution (DC), or de ned bene t (DB) bene ciary(s) or survivor bene ciary(s) are now and to keep your account updated so you can ensure that INPRS will distribute your account according to your wishes.
Depending on what INPRS
plan you’re in, your bene ciary options may be different. Need a refresher on bene ciaries? Watch our video at bit.ly/inprsbene or
bene ciary and a survivor bene ciary.
A DC bene ciary is the person(s) or organization(s) who you
have selected to receive the DC portion of your INPRS account. A survivor bene ciary is an individual or individuals you have designated to receive a portion of your DB or pension that you are actively receiving at the time of your death or what you would have received at retirement.
The rules are different with
PERF HYBRID, MY CHOICE AND TRF
DC bene ciaries must be designated by the member and may include one or more people, certain kinds of trusts, estate, or other legal entity, such as a charity (any legal entity with a taxpayer identi cation number).
If you name more than
one primary or contingent bene ciary, you must choose a percentage that each bene ciary will receive.
“Bene ciary Information”, then “Add/Edit Bene ciary” to update your information. If you need a paper form, visit our website at www.inprs.in.gov and go to the forms section on the left side of the page and select your fund.
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Has your paycheck gotten a little bigger thanks to the new IRS tax tables introduced earlier this year? You could turn this surprise
windfall into more savings in your retirement account. If your paycheck increased by $30 every two weeks, saving this money in your retirement account (either your INPRS de ned contribution account, if you meet eligibility requirements, or work-sponsored 457(b)) could result in over $25,000 after 20 years, assuming you earn an average of 6% each year!
All investments involve risk. Past performance is not a guarantee or a reliable indicator of future results. Source: https://www.investor.gov/additional-resources/free- nancial-planning-tools/compound-interest-calculator. (Based on $0 initial investment, $60 monthly contribution, 20 years, 6% interest, compound annually). This is not intended to be investment advice. For investment guidance, contact your investment advisor.
Phone: (844) GO-INPRS | Web: www.inprs.in.gov | Email: questions@inprs.in.gov
Every attempt has been made to verify that the information in this newsletter is correct and up-to-date. Published content does not constitute legal advice. If a con ict arises between information in this publication and the law, the applicable law shall apply.
The Indiana Public Retirement System (INPRS) is a trust and an independent body, corporate and politic. INPRS is not a department or agency of the state of Indiana, but is an independent instrumentality exercising essential government functions. (Indiana Code 5-10.5-2-3)
WANT TO KNOW HOW YOUR PLAN WORKS? VISIT US ONLINE AT WWW.INPRS.IN.GOV.
Copyright © 2018 INPRS. All Rights Reserved.