Table of Contents 1 Overview ........................................................................................ 5 1.1 Public Employees’ Retirement Fund ................................................................................... 5 1.2 Indiana Code Governing PERF Hybrid ................................................................................. 5 1.3 Administration of System and Funds ................................................................................. 5 1.4 Board of Trustees ........................................................................................................... 5 1.5 INPRS’ Vision, Mission, and Values ................................................................................... 6 1.6 Important Terms ............................................................................................................ 6 1.7 Contacting INPRS ........................................................................................................... 7 2 Membership .................................................................................... 8 2.1 Eligibility ....................................................................................................................... 8 Governor and Surviving Spouses’ Pension Plan (GSSP) .............................................................. 8 2.2 Ineligibility ..................................................................................................................... 9 2.3 PERF Hybrid Plan or PERF My Choice: Retirement Savings Plan ............................................. 9 2.4 Enrollment ................................................................................................................... 10 2.5 Suspension of Membership ............................................................................................ 10 2.6 Designating a Beneficiary............................................................................................... 10 2.7 Personal Information ..................................................................................................... 11 3 Contributions ................................................................................. 12 3.1 Employer Contributions ................................................................................................. 12 3.2 Member Contributions ................................................................................................... 12 Voluntary Member Contributions .......................................................................................... 12 3.3 Rollover Funds into PERF Hybrid DC account .................................................................... 13 3.4 Internal Revenue Code 401(a) 17 Limits .......................................................................... 13 3.5 Quarterly Member Statement ......................................................................................... 14 4 Creditable Service .......................................................................... 15 4.1 Vested Status .............................................................................................................. 15 Vesting for Specified Elected Officials ................................................................................... 15 4.2 Transferring Creditable Service To/From PERF Hybrid ........................................................ 16 Combining PERF & TRF Creditable Service ............................................................................. 16 Transfer of Creditable Service to PERF Hybrid From Other Funds .............................................. 16 Transfer of Creditable Service From PERF Hybrid .................................................................... 16 4.3 Other Concurrent Service .............................................................................................. 16 4.4 Military Service ............................................................................................................ 17 4.5 Leave of Absence ......................................................................................................... 18 Leave of Absence from PERF-Covered Employment ................................................................ 18 Family and Medical Leave Act (FMLA) .................................................................................. 18 Paid Leave ........................................................................................................................ 18 Unpaid Leave .................................................................................................................... 18 Adoption, Maternity, or Paternity Leave ................................................................................ 19 Worker’s Compensation Leave ............................................................................................. 19 Public Employees’ Retirement Fund Hybrid Plan Page 2 of 48 Member Handbook Effective: 07/01/2024