2 Membership Public employees are eligible for membership in PERF based on specific criteria as outlined in this section. Any individual who becomes a full-time employee of the State of Indiana or a participating political subdivision in a PERF-covered position becomes a member of PERF on the date the individual’s employment begins, unless the individual is excluded from membership as set forth herein. 2.1 Eligibility Your employer chose to join PERF and decided which positions would be covered under the PERF plan. You are eligible for membership under these requirements:  You are a full-time employee who occupies a position normally requiring performance of services of at least 1,000 hours per year.  You are employed at a school and work in a PERF-covered position that normally requires more than 600 hours a year.  The position is a non-excluded position as noted in IC 5-10.3-7.  The position is specified in a resolution passed by the employer’s governing body.  The position cannot be covered by another public retirement or pension plan [except Social Security or the Prosecuting Attorneys’ Retirement Fund (PARF), established by IC 33-39-7-9].  You are employed by a school corporation or charter school as a school resource officer (SRO) and the employer has chosen not to participate in the 1977 Police and Firefighters Fund. PERF membership is optional if you meet these specific requirements:  You were hired before July 1, 1982.  Certain police and fire chiefs.  You were a member of the general assembly and completed your service before July 1, 1987. NOTE: If your employer designates your position as being PERF covered, you are a member of PERF. Unless an exception applies, you cannot opt out of PERF. Governor and Surviving Spouses’ Pension Plan (GSSP) Effective January 1, 2021, the Governor and Surviving Spouses’ Pension Plan (GSSP) was adopted by INPRS. As of July 1, 2021, GSSP became a part of the PERF Hybrid Plan. The governor chooses GSSP or PERF Hybrid at retirement. The governor retains the right to receive funds from the defined contribution (DC) account in the PERF Hybrid plan, even if GSSP benefit is chosen. The governor is eligible for GSSP benefit if: • Individual holds governor’s office for any time during 1 term (30-40 percent governor’s salary) depending on age at retirement. • If individual succeeds without election, no benefit unless they serve more than 1 year (30-40 percent governor’s salary) depending on age at retirement. • If individual holds office for any length of time during 2 terms (40–50 percent governor’s salary) depending on age at retirement. • If governor resigns or is removed during a term for any reason besides mental or physical disability rendering unable to perform responsibilities of office, that term cannot be considered in GSSP retirement. Public Employees’ Retirement Fund Hybrid Plan Page 8 of 48 Member Handbook Effective: 07/01/2024