Pension Benefits DC and/or RSA Options DC and/or RSA Retirement Details This option is available when you balances. Whatever you elect, it must equal 100% of your DC and RSA funds, are completing your online as applicable. application. 1. Rollover part or the remaining DC and RSA funds balance into another Qualified Retirement Plan. Your decision on how to receive 2. Take distribution of all or part of the remaining DC and RSA funds distributions from your DC and RSA balance to be paid directly to you. funds can have significant tax 3. Leave all or part of your DC and RSA funds balance invested with PERF implications. Hybrid (deferment) until a later time. See the Required Minimum Distribution section of this handbook for details about DC and RSA Once you purchase an annuity with funds distributions at age 70½, or 72, depending upon when you reach your DC Account, INPRS is not able age 70½, for deferred funds. to reverse your selection. 7.16 Retirement Application Requirements It may take up to ninety (90) days to process your retirement application once it is submitted to INPRS. To complete your retirement application, you will access your account at myINPRSretirement.org and follow the prompts and instructions provided. onfirm Personal Information – your address and personal information as requested.  C  Choose Your Retirement Date and Plan – provide your retirement date and retirement type as requested (options will be limited by the Plan and date entered).  Survivor Designation – enter your survivor information as requested.  Tax Notices – enter information and make selections for state, federal, and local, as applicable.  Direct Deposit – provide the requested information.  Required Documents – upload any additional document as applicable or as required. 7.17 Direct Deposit Direct deposit is the required method to distribute benefit payments. On the same day each month, your pension payment will be deposited directly into your specified account. You can update your direct deposit information online at any time. The Direct Deposit form is completed and submitted online from your account. You will receive an annual notice of deposits. 7.18 Benefit Overpayment and Underpayment INPRS is required by federal and state law to correct any errors in benefit calculations. If you receive an overpayment because of an error, INPRS must recover the overpayment. If a member refuses to repay an overpayment of benefits, the Board may stop a member’s benefit. Additionally, the Board may stop a benefit payment to a survivor/beneficiary if a survivor/beneficiary refuses to repay an overpayment of benefits while receiving the benefit or overpayment of benefits made to the member. See IC 5-10.3-8-12. If you are underpaid, you will receive another payment from INPRS. 7.19 Health Insurance Retired Indiana Public Employees Association (RIPEA) As an active or retired member of PERF Hybrid, you are eligible to enroll in the Retired Indiana Public Employees Association (RIPEA). Information about this is available from the RIPEA website at . As a retired member of PERF Hybrid, and a member of RIPEA, you may have your RIPEA www.ripea.org membership dues and/or group insurance premiums deducted from your PERF Hybrid monthly pension Public Employees’ Retirement Fund Hybrid Plan Page 38 of 48 Member Handbook Effective: 07/01/2024