Non-exempt Staff - PERF
Public Employees' Retirement
Fund of Indiana:
(available to benefits-eligible
http://www.in.gov/inprs/ 1-888-526-1687 (toll free)
The Public Employees' Retirement Fund (PERF) was created on July 1, 1945, with the passage of the Public Employee's Retirement Act. The fund serves public employees and provides a wide range of retirement services with seven separately managed retirement funds.
When you begin employment in a PERF covered position, you are required to become a member of PERF. A membership application is completed in New Employee Orientation. An Annuity Savings Account is established in your name.
PERF contributions are divided into two parts, the Annuity Savings Account and the pension fund. ISU contributions 3% of each gross pay into the Annuity Savings Account. The rate ISU pays into the pension fund is actuarially determined by PERF each year. The current contribution rate is 8.6% of every gross pay.
All non-exempt employees may make additional contributions to their PERF Annuity Savings Account. If you are an active member of PERF, you can add up to 10% of your pay to your account. Contributions are deducted from your payroll checks after taxes are withheld. You can only withdraw funds from your Annuity Savings Account as a distribution when you separate from PERF-covered employment or at retirement. You may choose to stop making post-tax voluntary contributions or change the amount deducted at any time. Voluntary Contributions to Annuity Savings Account Form
For information on retirement qualifications/options, investments or disability, a member's handbook and other information are available online at http://www.in.gov/inprs/ (Indiana Public Retirement System) or questions can be sent by email to firstname.lastname@example.org .