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Contribution Rates and Appropriation Amounts Approved by INPRS Board: Small Funds Plan Members
By Dimitri Kyser - February 7, 2024
Updated 2/11/25:
The INPRS Board of Trustees approved employer contribution rates for several of INPRS’s plans during the Oct. 25, 2024, Board of Trustees meeting.
Total Contribution Rates Effective 1/1/2025 (Calendar Year 2026 [CY26])
| Fund | 2025 | 2026 (new) |
|---|---|---|
'77 Fund | 20.30% | 20.30% |
EG&C | 17.90% | 17.90% |
Appropriation Requests
These are the amounts that INPRS will request as part of the budgetary session in early 2025. The General Assembly will have the final word on how much is to be approved for each fund; these are the amounts to be requested.
| Fund | FY 2026 | FY 2027 |
|---|---|---|
JRS | $28,879,892 | $29,645,209 |
PARF | $5,128,038 | $5,263,931 |
LE DB | $6,113 | $6,113 |
LPSPR | $140,000,000 | $130,000,000 |
The JRS amount above includes an assumed $7,153,189 of court and docket fees. Although the actual amount may vary by a few dollars, it has been remarkably consistent year over year.
The distributions of LPSPRF (Pension Relief) are lower than in the prior biennium due to the falling expected benefit payment forecasts.
Supplemental Reserve Accounts
The INPRS Board approved the following surcharge rates for the supplemental reserve accounts effective Jan. 1 of each year.
| Fund | 2024 | 2025 | 2026 (new) |
|---|---|---|---|
EG&C | 1.00% | 1.00% | 1.10% |
The surcharge rate increase is capped at 0.1% of payroll per year per IC 5-10.5-4-8(c), which was part of HEA 1004-2024. The 2025 rates were approved in the April 2024 meeting, and the 2026 rates were approved at the October 2024 meeting.