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Indiana Public Retirement System

Indiana Public Retirement System (INPRS) > My Fund > Public Employees > Use the Benefit Calculator Use the Benefit Calculator

PERF calculators provide estimates only and apply only to members of the Public Employees' Retirement Fund.

To know when you might be eligible to retire, please read the information below. Remember, you should never take any life altering actions based on this calculator only. Your actual eligibility to collect a PERF pension must be certified as accurate by PERF. If you are nearing retirement, please contact the Customer Service Representatives at (888) 526-1687 to discuss the steps you should take in order to apply to retire. To avoid an unexpected gap between your last paycheck and your first PERF retirement check, retirement applications must be submitted no later than 90 days in advance of your retirement date.

Full (Unreduced) Pension Benefits

The PERF benefit rewards those with more years of service with the ability to retire at an early age. As a result, there are three ways you can become eligible to receive full (unreduced) pension benefits under PERF:

  1. If you are age 65, and have 10 or more years of creditable service under PERF;
  2. If you are age 60, and have 15 or more years of creditable service under PERF; or,
  3. If you are at least age 55, and the sum of your age at retirement and your total years of creditable service under PERF equals 85 or greater (known as the “Rule of 85”).

The following are examples of the age and years of service that qualify a member for full (unreduced) pension benefits:

 Age  Service
 65  10 years
 60 through 64  15 years
 59*  26 years
 58*  27 years
 57*  28 years
 56*  29 years
 55*  30 years

Early Retirement with Reduced Pension Benefits

PERF also provides early retirement options, where the pension benefit will be reduced based on your age. You will qualify for early retirement with a reduced pension if you are not eligible for normal (unreduced) benefits described above and meet the two following conditions:

  1. You are between the ages of 50 and 59, and
  2. You have at least 15 years of creditable service under PERF.

Keep in mind, that if you choose to take early retirement, your pension benefits will remain at the reduced level even after you reach the age requirements for normal (unreduced) benefits.

* If a member's age or years of creditable service is a combination of years and months, the Rule of 85 still applies. For example, assume that a member is age 55 years and 3 months and has 29 years and 9 months of service. The member's combined total of age and years of creditable service equals 85, and the member is entitled to an unreduced pension benefit. However you must be at least 55 to qualify for benefits under the Rule of 85.