If you are an Elected Official, you must complete and submit to INPRS the Election to Contribute or Discontinue Receiving Benefits as an Elected Official form available on the PERF page of the INPRS website. 7.22 Changing Form of Benefit or Survivor AFTER Retirement You may change your survivor designation and or monthly pension benefit option without a major life event, after the retirement application has been processed. There is no limit on the number of times a change can be made; however, a fee may be assessed after the first change is processed. Changing your survivor or form of benefit will have an impact on the amount of benefit you receive. Changing your survivor or form of pension benefit after retirement must be done through completing forms and sending them to INPRS. These changes cannot be completed through logging into your account online. You can obtain a benefit estimate before authorizing a change. If a living spouse is removed, a divorce decree must be submitted, or the spouse must provide consent. You cannot elect to change to a 5-year guaranteed benefit. INPRS will need proof of birth of your new survivor as well as the marriage certificate if a new spouse is being named. If the new survivor is not a spouse, they must meet the age requirements as established by the IRS for a non-spouse joint survivor. Once the request is approved, the change will become effective at the time the completed application has been received. The benefit will be actuarially recalculated using all factors including annuity interest in effect at the time INPRS receives the completed form. NOTE: Changing a survivor may have a significant impact on your monthly benefit. Public Employees’ Retirement Fund Hybrid Plan Page 40 of 48 Member Handbook Effective: 07/01/2024
Public Employees' Retirement Fund Hybrid Plan: Member Handbook Page 39 Page 41