Page 12 - Public Employees Retirement Fund My Choice Plan Member Handbook for Local Government Employees

▪ Update your address, and
▪ Make fund allocations for your contributions. ▪ Make plan election if employer allows choice.
Membership Membership
If you do not make contribution allocations, your contributions will default to a Target Date Fund based on the estimated year you would be eligible to retire. See the Investment Options section of this handbook for details.
You will have 60 days to choose a plan (PERF My Choice: Retirement Savings Plan or PERF Hybrid Plan, as applicable). If you do not choose within this timeframe, you will default to the plan designated by your employer as the default plan. You will receive a letter in the mail to confirm your plan election or the default if you have failed to make an election.
2.3 Ineligibility
Employment by other public employers, such as cities, towns, or school districts, does not automatically mean membership in PERF. This is because some of the more than 1,000 employers participating choose to offer PERF benefits only to certain groups of employees, but not automatically to all employees.
The following are not eligible to participate in PERF:
▪ Employees who are paid wholly on a fee basis or as an independent contractor
▪ Employees who occupy positions covered by PERF Resolution and at the same time occupy positions covered by another retirement or pension plan supported in whole or in part by either the State of Indiana or a participating political subdivision including the following:
◦ 1977 Police Officersˈ and Firefightersˈ Retirement Fund (ˈ77 Fund)
◦ Legislatorsˈ Retirement System (LRS)
◦ Judgesˈ Retirement System (JRS)
◦ Excise, Gaming and Conservation Officersˈ Retirement Plan (EG&C)
◦ 1953 Police Pension Fund
◦ 1937 Firefighters’ Pension Fund
◦ 1925 Police Pension Fund
◦ Sheriff’s Pension Trust
◦ Indiana State Police Pension Trust Fund
▪ Elected officials of a political subdivision, unless the governing body specifically provides for the participation of locally elected officials
▪ Employees occupying positions normally requiring performance of service of less than 600 hours per year who meet one of the following are ineligible:
Public Employees Retirement Fund My Choice Plan Page 12 of 50 Member Handbook for Local Government Employees
Effective: 07/01/2020
NOTE: The 1953 Police Pension Fund, 1937 Firefighters’ Pension Fund, 1925 Police Pension Fund, Sheriff’s Pension Trust, and Indiana State Police Pension Trust Fund are administered at the local unit level and not by INPRS.