Fund Overview

Members of PERF include:

State employees and
Public employees of state and local government entities (political subdivisions).

PERF exclusively benefits eligible employees of participating employers and their designated beneficiaries. Plan benefits are paid from the contributions of participating employers and members plus returns on investment of assets.

There are 2 PERF plans: PERF Hybrid and PERF My Choice. Some employers allow new employees a choice of plans. Those members can elect either the PERF Hybrid or My Choice plan within the first 60 days of hire.

The PERF Hybrid plan benefit is made of 2 parts: a pension and a 401(a). At INPRS, we refer to a pension as the defined benefit (DB), and the 401(a) as the defined contribution (DC) account.
The PERF My Choice plan is DC-only. Your balance consists of both employer share and member share contributions.

Consult your member handbook for more details

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