Employer Contribution Rate FAQs

TRF Hybrid Plan

On Friday, April 26th, the INPRS Board of Trustees approved an employer contribution rate of 6.5 percent for the TRF Hybrid and TRF My Choice plans effective January 1, 2025, through December 31, 2025. This new rate will be applied to all payroll dates that occur after January 1, 2025.

TRF My Choice Plan

On Friday, April 26th, the INPRS Board of Trustees approved an employer contribution rate of 6.5 percent for the TRF Hybrid and TRF My Choice plans effective January 1, 2025, through December 31, 2025. This new rate will be applied to all payroll dates that occur after January 1, 2025. For TRF My Choice the normal cost will remain at 6.0 percent and the supplemental cost will be 0.5 percent.

PERF Hybrid Plan

The current composite rate is 11.2 percent and continues through June 30, 2025. As allowed by Senate Enrolled Act 549, this rate pertains to all PERF employers for fiscal years 2024 and 2025.

PERF My Choice Plan

The breakdown of the PERF 2024 contribution rate (for state of Indiana employers) of 11.2 percent is 3.7 percent for normal cost and 7.5 percent for amortization of the unfunded liability effective July 1, 2023, through June 30, 2024. Those rates for the state of Indiana plan will be 4.2 percent and 7.0 percent respectively from July 1, 2024, through June 30, 2025.

For Local Government (political subdivisions), employers choose how much to contribute to employee accounts, from 0 percent up to the normal cost of the fund. Beginning Jan. 1, 2024, the normal cost is 4.4 percent through Dec. 31, 2024. The rate as of Jan. 1, 2025, will be 4.2 percent through Dec. 31.

In addition, political subdivisions must make a supplemental contribution toward the fund’s actuarial unfunded liability. The contribution rate is 6.8 percent through Dec. 31, 2024, and will be 7.0 percent through Dec. 31, 2025.

Please note that the breakdown of the rate can change each year.

'77 Fund

The INPRS Board of Trustees voted in October 2022, to set the 2024 rate at 19.1 percent effective Jan. 1 through Dec. 31, 2024. The board also voted on Oct. 27. 2023 to set the 2025 rate at 20.30 percent from Jan 1. through Dec. 31, 2025.

Excise, Gaming and Conservation Fund

The current employer contribution rate is 20.75 percent and will remain the same in 2024. In 2025, the rate will be 17.90 percent from Jan. 1 through Dec. 31, 2025.

LE DC Plan

The 2024 employer contribution rate is 14.2 percent as of July 1, 2023, and will remain so in 2025, from July 1, 2024, to June 30, 2025.