Indiana TRF Retirement Calculator Help
The calculator estimates the pension part of the TRF Hybrid Plan using the INPRS member handbook. Here's what each input does and how to read the result.
Years of TRF service
Creditable service on your INPRS statement, plus any PERF Hybrid service, since the two combine for vesting and eligibility. The calculator adds the years between your current age and the age you leave.
Final average earnings
The average of your five highest years of covered pay. They can be any five years. W-2 pay counts, along with pre-tax amounts deferred to a 403(b), 457 or Section 125 plan and up to $2,000 of severance.
Age you leave teaching
This decides which rule applies. At 65 with 10 years, 60 with 15, or 55+ with age plus service of 85, the pension is unreduced. Between 50 and 59 with 15 years you can take an early pension at the table's percentage. Leave earlier with 10+ years and the result shows the age your unreduced pension can start.
Reading the result
The monthly figure matches the handbook's worksheet, which uses option A-1 (five years certain and life). A survivor option pays less. Unreduced pensions have a $185 monthly minimum. Your DC account, COLAs and 13th checks aren't included.
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Frequently asked questions
Is the early reduction 0.5% per month?
No. TRF uses a fixed table by age: 89% of the pension at 59, 79% at 57, 69% at 55 and 44% at 50. Retiring at 57 costs 21%, not 6%.
Can I use the Rule of 85 before 55?
No. You must be at least 55. Before that, even 30+ years of service only qualifies you for the early retirement table.
Are TRF members in Social Security?
Yes. Social Security tax is withheld from TRF members' pay, and the pension and Social Security are paid side by side.
Does the calculator include my DC account?
No. The DC account is a separate balance you're always vested in. Check your quarterly statement for its value.