INDIANA PUBLIC RETIREMENT SYSTEM(INPRS)

Legislation approving the merging of the administration of funds of the Public Employees’ Retirement Fund (PERF) and the Teachers’ Retirement Fund (TRF) was adopted by the General Assembly and signed by Gov. Mitch Daniels in April 2011. The creation of the Indiana Public Retirement System (INPRS) became effective July 1, 2011. Combined membership totals equal nearly 500,000 members. Each retirement fund continues as a separate fund under the oversight of a combined INPRS nine-member board of trustees. Individual funded status for each will continue to be calculated separately.