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Survivor Benefits

Ensure your survivor or beneficiary has access to this page, your specific plan name, and checklist as you discuss your retirement and financial accounts.

Survivor Benefits

Definitions


Survivor - a person who receives a survivor retirement (DB/pension) benefit upon a member’s death 


Beneficiary - one or more persons, the member’s estate or trust designated to receive all or part of a member’s DC account upon their death 


Who INPRS can speak to regarding a member’s death  


A Power of Attorney (POA) is void on the date of a member’s death, so INPRS cannot discuss death benefits with a POA of a deceased member. If this is you, please see if any scenarios on the list below apply to you. INPRS can speak with the POA of a survivor who is currently receiving benefits. INPRS is authorized to speak with the following people if they have the corresponding documentation on file with INPRS: 


  • The named survivor or beneficiary

  • An executor of the estate with a letter of testamentary

  • An administrator with a letter of administration

  • A claimant with a small estate affidavit

Plan benefits are paid from the contributions of participating employers and members plus returns on investment of plan assets.


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

  • Hybrid benefits are made of two parts: a defined benefit (DB) and a defined contribution (DC).

  • Think of a defined benefit (DB) as a pension. Think of a defined contribution (DC) as a savings account.

  • The My Choice Plan is the DC -only account. It is available for members who become first-time participants in TRF at a school corporation or a state agency.