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Upon a member's enrollment into the Fund, an individual Annuity Savings Account (ASA) will be established for the member. The Annuity Savings Account is comprised of all employee contributions and employer pickup contributions. Investment gains and losses are credited to a member's account at the end of every quarter, based on the member’s investment elections.
All TRF members are required by state law to contribute three-percent (3%) of their annual compensation to their Annuity Savings Accounts. This contribution can be made by the employer (employer pickup). Active TRF members may also make voluntary contributions in excess of the mandatory amount to their Annuity Savings Accounts. The voluntary contributions must be made in one-percent increments up to a maximum of ten-percent (10%). Thus, the maximum amount of contributions that an active member can make to his or her ASA is thirteen-percent (13%) of his or her annual compensation.
Post-tax contributions are deducted from your pay after all other deductions have been made. Contributions made to TRF on a post-tax basis will have no future tax liability. Pre-tax contributions are deducted prior to calculating your current income tax withholding, thus reducing your current taxable income. Contributions made on a pre-tax basis will be taxed at the point that they are actually received by the member.
Provided the member meets certain eligibility requirements, the additional voluntary contributions may be made on either a pre-tax or post-tax basis. In order for these contributions to be pre-tax (employment taxes still apply), the following requirements must be met:
Once a member elects to participate in the pre-tax contribution program, that election is irrevocable for as long as the member remains with the current employer. Post-tax contributions may be changed as often as the employer allows. Please visit our Web-Site for additional details regarding pre-tax contributions. Members wishing to make voluntary contributions to their Annuity Savings Accounts should contact their payroll administrator.
Investing Annuity Savings Account Money
The Indiana Constitution was amended in 1996 to provide TRF members with more investing options. TRF’s staff has composed an informational brochure, "," for members to use in understanding the different investment options available to them. Please consult this brochure for detailed information concerning the available options and the necessary procedures for changing your investment allocations. Members may obtain a copy of this brochure by either contacting TRF or visiting the TRF's Web site.
Current Investment Options:
After the end of each fiscal quarter, all members with a balance in their Annuity Savings Accounts and a current address on file with TRF will receive a quarterly statement. If you prefer, you may opt out of receiving a paper copy of your quarterly statement and view it instead on our Web site over a secured connection. These statements indicate how your investment portfolio performed over the preceding quarter. In order to opt out of receiving your quarterly statement through the U.S. mail, you must first access your statement on our Web site. There is a button you need to mark that indicates that you wish to view all future statements electronically; from that point forward, you will be able to view your statements electronically in lieu of receiving a paper copy through the U.S. mail.
Important things to know about Quarterly Statements: