Overview Values: INPRS believes people are the foundation of our success. It takes people with different backgrounds, ideas, and strengths to be successful. Success is built upon accountability, commitment, constructive conflict, and trust. 1.6 Important Terms • Beneficiary – one or more persons, the member’s estate or trust designated by the TRF Hybrid member to receive all or part of a member’s defined contribution funds after the death of a member. • Contributions – funds paid to INPRS by employers and/or the employee/TRF member to fund future benefits. • Creditable Service – each period of continuous employment in a TRF-covered position. Creditable service is important in determining your qualification for benefits. • Defined Contribution (DC) Account – a separate account from the pension benefit (DB) that is funded by three percent (3%) mandatory contributions. These contributions are either paid by you, the member, through payroll deductions or your employer. Voluntary contributions, interest and earnings may also be added to this account. This account was formerly known as the annuity savings account (ASA). • Employer – a participating public entity that employs TRF Hybrid members. • Mandatory Contributions – contributions to the DC that must be made as required by State law. • Member – a public employee enrolled in TRF Hybrid plan. • Public Employee – an employee of the State of Indiana, public schools, innovation schools and universities, and other State and local political subdivisions. • Retirement Effective Date - the first day of the month following the member’s termination of employment. • Retirement Pension Benefit – a lifetime monthly pension benefit paid to a qualified member after retirement from TRF-covered employment or to the member’s designated survivor. This pension benefit is also known as the defined benefit (DB) and is funded by TRF employers. • Rollover Savings Account – an account consisting of funds transferred to TRF from another qualified plan plus any interest or earnings. This is referred to as Rollover Pre-Tax Contribution or RSA (for Investments). • Survivor – the person designated by the TRF member who may receive pension benefits after the death of a member. • Vesting/Vested – the status of meeting the statutory requirement to receive a retirement pension benefit. PERF/TRF Hybrid members must earn ten years (10) of creditable service under one or both funds combined, except as otherwise provided by statute. • Voluntary Contributions – you may choose to make additional contributions to your DC through payroll deductions if your employer participates in the program. 1.7 Contacting INPRS Information about TRF Hybrid can be found on the INPRS website: www.in.gov/inprs. Go to Plan Info at the top of the navigation menu, and then select Teachers Retirement Fund. You can review (frequently asked questions FAQs), quick reference guides (QRGs), and more on the INPRS website. Teachers' Retirement Fund Hybrid Plan Member Page 6 of 47 Handbook Effective: 07/01/2024