DC and/or RSA Options DC and/or RSA Retirement Details MetLife Annuity Rollover all or any portion of your DC and RSA funds up to 100% into a MetLife annuity. The minimum rollover amount is $5,000. If you elect a This option is available when you are partial rollover of your DC and RSA funds to MetLife, you must choose to completing your online application. do one or a combination of the following with the remainder of your DC Your decision on how to receive and/or RSA balances. Whatever you elect, it must equal 100% of your DC distributions from your DC and RSA and RSA funds, as applicable. funds can have significant tax 1. Rollover part or the remaining DC and RSA funds balance into implications. another Qualified Retirement Plan. 2. Take distribution of all or part of the remaining DC and RSA funds Once you purchase an annuity with balance to be paid directly to you. your DC Account, INPRS is not able to 3. Leave all or part of your DC and RSA funds balance invested with reverse your selection. TRF Hybrid (deferment) until a later time. See the Required Minimum Distribution section of this handbook for details about DC and RSA funds distributions for deferred funds. 7.15 Retirement Application Requirements It may take up to ninety (90) days to process your retirement application once it is submitted to INPRS. To and follow complete your retirement application, you will access your account at myINPRSretirement.org the prompts and instructions provided.  Confirm Personal Information – your address and personal information as requested  Choose Your Retirement Date and Plan – provide your retirement date and retirement type as requested (options will be limited by the Plan and date entered)  Survivor Designation – enter your survivor information as requested  Tax Notices – enter information and make selections for state, federal, and local, as applicable  Direct Deposit – provide the requested information  Required Documents – upload any additional document as applicable or as required 7.16 Direct Deposit Direct deposit is the required method to distribute benefit payments. On the same day each month, your pension payment will be deposited directly into your specified account. You can update your direct deposit information online at any time. The Direct Deposit form is completed and submitted online from your account. You will receive an annual notice of deposits. 7.17 Pension Benefit Overpayment INPRS is required by federal and state law to correct any errors in benefit calculations. If you receive an overpayment because of an error, INPRS must recover the overpayment. If a member refuses to repay an overpayment of benefits, the Board may stop a member’s benefit. Additionally, the Board may stop a benefit payment to a survivor/beneficiary if a survivor/beneficiary refuses to repay an overpayment of benefits while receiving the benefit or overpayment of benefits made to the member. See IC 5.10.4-5-15. If you are underpaid, you will receive another payment from INPRS. 7.18 Health Insurance Supplemental Group Health Insurance INPRS offers a Medicare supplemental group health insurance plan. You qualify if you are 65 and over and are a TRF Hybrid member or a spouse. INPRS will send you the information on the plan when you turn 65. The details include options and costs. You can also request the information by calling INPRS. Teachers' Retirement Fund Hybrid Plan Member Page 38 of 47 Handbook Effective: 07/01/2024