Service Credit and will be eligible for retirement at age 65. This also applies to state officials including the State Auditor, State Treasurer and Secretary of State. 4.2 Transferring Creditable Service To/From PERF Hybrid Combining PERF & TRF Creditable Service Any member with creditable service in both the PERF and TRF will need to elect at retirement whether to receive a benefit from one fund, TRF or PERF. Once you elect to receive a pension benefit from one fund, your vested interest will be determined based on combined creditable service. (You will be credited one year for each year of covered service, no matter how many positions you held at the time of service.) You will receive a single benefit from that specified fund based on the combined creditable service from both funds. NOTE: Any DC funds held in both PERF and TRF will be handled according to your choices made during completion of your online retirement application. Example Tom serves as a schoolteacher during the day in a TRF Hybrid position. He drives a snowplow at night in a PERF Hybrid position. Tom has accounts with both TRF and PERF Hybrid. Even though he is a member of both funds, Tom elects to retire from one fund. At retirement Tom’s service credit is combined so that he only gets one day of service credit for the concurrent service in PERF and TRF Hybrid. Transfer of Creditable Service to PERF Hybrid From Other Funds In certain situations, creditable service may also be transferred from the 1977 Police and Firefighters Fund. Contact INPRS for more information. If you were a member of the Excise, Gaming, and Conservation Officers’ Plan (EG&C Plan), you left EG&C employment without taking distribution of the fund and did not vest in the plan, and you take a PERF Hybrid covered position, you may transfer your EG&C creditable service to PERF Hybrid upon request. Contact INPRS for more information. Transfer of Creditable Service From PERF Hybrid If you terminated employment from your PERF Hybrid position, you may transfer your PERF Hybrid creditable service to TRF Hybrid, if you have previous employment with TRF Hybrid or are currently employed in a TRF Hybrid position. The transfer of service credit will be completed upon retirement. In certain situations, PERF Hybrid creditable service may also be transferred to the 1977 Police and Firefighters Fund. Contact INPRS for more information. 4.3 Other Concurrent Service If you serve in a position covered by another governmental plan, you cannot participate in PERF Hybrid while you are serving in the other position. The exceptions are PARF and TRF Hybrid. Example Lindsay is a firefighter in a 1977 Fund covered position for Carmel. She is also a council member for Fishers. Due to her membership in the 1977 Fund, she is excluded from membership in PERF Hybrid. Public Employees’ Retirement Fund Hybrid Plan Page 16 of 48 Member Handbook Effective: 07/01/2024