Last June, the first installment of the Pension Relief Distributions were sent. The second installment is scheduled to be sent before October 2nd.

In some cases, the installment amounts may be different than what you paid out. Here are some reasons as to why this may happen:

1. Indiana Code directs INPRS to pay the current year’s estimated benefit payments to each unit of local government, not the prior year’s actual payments. INPRS also pays a true-up to correct for any differences between one year’s estimated payment amount and the actual amounts paid, which are certified in the next year’s reporting. While the estimated payment plus the true-up should equal the actual amounts paid, they occur across two different calendar years.

2. Some local units of government are required to report their pension liabilities under GASB standards. This reporting requires a separate actuarial valuation. INPRS is permitted to reimburse actuarial fees up to the amount their retained actuary would charge for this service in order to reimburse this expense from the local unit.

3. INPRS performs testing on the data local units of government submit, and from time to time, find that a payee was deceased and shouldn’t have received the payments reported.  After verifying with the local unit, INPRS will reduce a future Pension Relief Fund payment to recoup this overpayment.

4. Rarely, other data corrections are reported or discovered that cause a change in payment after the original report has been submitted.

In cases related to #3 and #4 above, INPRS will contact the local unit if this happens.  

If you have any questions, please contact our Employer Advocate Team at (888) 876-2707.