Disability Alternatives ......................................................................................................... 34 7.12 Minimum Retirement Pension Benefit............................................................................... 35 7.13 Pension Benefit Payment Options ................................................................................... 35 7.14 Deductions .................................................................................................................. 36 7.15 DC and RSA Payment Options ........................................................................................ 36 7.16 Retirement Application Requirements .............................................................................. 38 7.17 Direct Deposit .............................................................................................................. 38 7.18 Benefit Overpayment and Underpayment ......................................................................... 38 7.19 Health Insurance .......................................................................................................... 38 Retired Indiana Public Employees Association (RIPEA) ............................................................. 38 Retirement Medical Benefits Account (RMBA) for State of Indiana Employees ............................ 39 7.20 Re-Employment of Retired Members ................................................................................ 39 7.21 Second Retirement Eligibility .......................................................................................... 39 7.22 Changing Form of Benefit or Survivor AFTER Retirement .................................................... 40 8 Tax Considerations ......................................................................... 41 8.1 Tax Form 1099-R ......................................................................................................... 41 8.2 Tax Withholding ........................................................................................................... 41 8.3 Taxation of Defined Contributions ................................................................................... 41 Basis Recovery Tax Rules Effective January 1, 2018 .............................................................. 41 9 Beneficiaries/Survivors & Death Benefits ........................................... 42 9.1 Death in Retirement – Survivor Benefits........................................................................... 42 9.2 Death While Not Retired ................................................................................................ 42 9.3 Death in Disability ........................................................................................................ 43 9.4 Trust as Death Beneficiary ............................................................................................. 43 9.5 HEART Act .................................................................................................................. 43 9.6 Disclaiming a Benefit..................................................................................................... 43 10 Additional Information .................................................................... 44 10.1 Cost of Living Adjustments (COLAs) ............................................................................... 44 10.2 13th Check Supplemental Payment ................................................................................. 44 10.3 Required Minimum Distribution (RMD) Information............................................................. 44 Death Benefit Required Minimum Distribution ......................................................................... 45 10.4 Garnishments .............................................................................................................. 45 Qualified Domestic Relations Order (QDRO) ........................................................................... 45 10.5 Administrative Review .................................................................................................. 45 Initial Determination ........................................................................................................... 45 Administrative Law Judge ................................................................................................... 46 Judicial Review ................................................................................................................. 46 10.6 Power of Attorney ........................................................................................................ 47 10.7 Guardian ..................................................................................................................... 47 10.8 Access to Records ........................................................................................................ 47 Member Records & Confidentiality ....................................................................................... 47 Public Records................................................................................................................... 48 Public Employees’ Retirement Fund Hybrid Plan Page 4 of 48 Member Handbook Effective: 07/01/2024