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The Indiana General Assembly created the Indiana State Teachers' Retirement Fund (TRF or Fund) in 1921. Since its establishment, the laws governing the administration of TRF have changed and expanded to respond to the needs of TRF members.
Effective July 1, 2011, in accordance with Indiana law, the Indiana Public Retirement System (INPRS) is established. INPRS will administer and manage TRF, PERF, the Prosecuting Attorneys’ Retirement Fund, the 1977 Police Officers’ and Firefighters’ Pension and Disability Fund, the Legislators’ Retirement System, the Judges’ Retirement System and the State Excise Police, Gaming Agent, Gaming Control Officer and Conservation Enforcement Officers’ Retirement Plan. INPRS will also oversee three non-retirement funds including the Pension Relief Fund, the Public Safety Officers’ Special Death Benefit Fund and the State Employees’ Death Benefit Fund. Each of the current funds will remain separate and will be administered by the nine-member board of trustees of INPRS.
We advance the achievement of retirement security for current and future retirees and beneficiaries through our delivery of operational and investment excellence, exemplary customer service and trusted stakeholder communication.
Board of Trustees
The Board establishes investment policies in accordance with the "prudent investor standard.” Under this standard, investment decisions are made with the same degree of care that a prudent person, acting in a like capacity and familiar with such matters, would use in the conduct of an enterprise of a similar character with similar aims.
A nine-member board of trustees governs TRF. Appointed by the Governor by July 15, 2011, the board consists of the following:
Membership and Asset Totals
As of June 30, 2011, TRF had over 153,000 active, inactive, and retired members and beneficiaries and managed approximately 9.1 billion dollars in assets.
Indiana Code and Indiana Administrative Code Governing the Indiana State Teachers’ Retirement Fund
The Indiana Code (IC) Sections 5-10.2, 5-10.4 and 5-10.5, Title 35 IAC 14 of the Indiana Administrative Code (IAC), and Section 401 of the Internal Revenue Code govern TRF, as well as specific resolutions adopted by the Board of Trustees. These codes are available online at the Indiana General Assembly Web site at http://www.in.gov/legislative/ic_iac.