1 Overview 1.1 Teachers Retirement Fund History The Indiana General Assembly created the Indiana Teachers’ Retirement Fund (TRF) in 1921. Since then, they have changed some laws for TRF to respond to the needs of members. As of July 1, 2010, the Board of Trustees of the Indiana State Teachers’ Retirement Fund and the Public Employees’ Retirement Fund (PERF) was required to select and set the salary for a common director for TRF and PERF. An executive director carries out the policies set by the board and manages the fund on a daily basis. See IC 5-10.5 for more information. Each fund must pay 50% of the director’s salary and cooperate in managing and investing the assets of the funds. The TRF My Choice: Retirement Savings Plan (formerly ASA Only Plan), a Defined Contribution (DC) plan, was passed by legislators and effective July 1, 2019. The TRF My Choice Plan consists of an employer variable rate share that includes vesting requirements and an employee 3% portion. The TRF My Choice Plan is an alternative retirement plan to the TRF Hybrid Fund and is available for individuals who become first time participants in TRF at a school corporation or a state agency. The TRF My Choice: Retirement Savings Plan was formerly called the ASA Only Plan. This handbook covers the TRF My Choice: Retirement Savings Plan only. 1.2 Administration of System and Funds Indiana Public Retirement System (INPRS) administers 16 funds (eight defined benefit (DB), five defined contribution (DC), two other post-employment benefit, and one custodial). In accordance with Indiana Code (IC) 5-10.5-2-3, INPRS is governed by a nine-member Board of Trustees, appointed by the Governor. INPRS combined membership totals over 500,000 members representing more than 1,250 participating employers including public universities, school corporations, municipalities, and state agencies. For additional information about each fund visit the Annual Reports page of the INPRS website . www.in.gov/inprs 1.3 Board of Trustees INPRS is governed by a nine-member Board of Trustees, appointed by the Governor. Board members serve as “fiduciaries” of the Fund, which means they are legally bound to make investment decisions with your best interest in mind. The executive director carries out the policies set by the Board and administers the Fund (IC 5-10.5). 1.4 INPRS Vision, Mission, and Values Mission: Engaged members able to realize their retirement dreams Vision: As fiduciaries, educate stakeholders, collect necessary contributions, and prudently manage member assets to deliver promised DB and DC benefits and services. 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. TRF My Choice: Retirement Savings Plan Member Page 4 of 30 Handbook Effective: 07/01/2024