If there is no beneficiary on file, benefits will be paid first to your surviving spouse. If there is not a surviving spouse, benefits will be made payable to your surviving dependents or dependents in equal shares. If there is no surviving spouse or dependents, the estate will receive the balance of the account. See IC 5-10.4-8-13. If you designate more than one primary beneficiary, and a primary beneficiary predeceases you, and you do not complete a new beneficiary designation, the remaining primary beneficiaries will receive an apportioned pro rata share based upon the remaining primary beneficiary’s allocated percentages of the deceased primary beneficiary’s portion. Example Xavier is a PERF member and designates three primary beneficiaries as follows:  Ann – 60%  Bob – 30%  Carl – 10% Ann predeceases Xavier, and Xavier does not submit a new beneficiary form. Ann’s 60% share will be divided between Bob and Carl. You can also designate contingent beneficiaries. Contingent beneficiaries would be paid upon your death only if all primary beneficiaries had pre-deceased you. In certain situations, naming a Trust or Legal entity as beneficiary is possible. Generally, you can leave your DC account death benefit to a trust. When naming a trust or legal entity as beneficiary, you must furnish INPRS with the name, address, and tax identification number of the trust or legal entity. INPRS will also request a copy of the trust agreement. It is important to keep your beneficiary information up to date. Your beneficiary is the person who will receive your DC and/or RSA funds, as applicable, after you die. This decision must be made by you. If you do not name a beneficiary for your DC, INPRS will pay it to your estate upon your death. Furthermore, failure to update beneficiaries could result in payment being made to a previously designated beneficiary. You can change your beneficiary at any time prior to your retirement by logging into your online account or completing and submitting the appropriate form from the INPRS website. 2.5 Suspension of Membership If you have been inactive for 5 years, your membership and account will be suspended. Inactive means you are no longer working in a My Choice Plan-covered position and there have not been any wages and contributions reported for a 5-year period. The implementation of the 5-year suspension began on July 1, 2016, for all DC and/or Rollover Pre-Tax Contribution funds inactive for 5 years or more on that date going forward. 2.6 Personal Information Your name and address on file with INPRS is the primary contact information maintained by INPRS. Your employer can report your name changes when reporting wage and contribution information. However, changing your address and beneficiary information with your employer will not update that information with INPRS. You need to contact INPRS directly to update your personal information. NOTE: As long as you have assets or a current or future benefit with INPRS, it is critical you keep INPRS informed of any changes to your name, addresses, or beneficiaries. For example: Getting married and changing your surname does not automatically result in a change to your beneficiary designation. TRF My Choice: Retirement Savings Plan Member Page 8 of 30 Handbook Effective: 07/01/2024