Effective July 1, 2011, the administration of the Indiana State Teachers’ Retirement Fund (TRF), established in 1921, and the funds previously administered by the Indiana Public Employees’ Retirement Fund (PERF), established in 1945, were consolidated as the Indiana Public Retirement System (INPRS).
Indiana Public Employees Retirement System Basics, by Plan
| Plan |
Assets (millions) |
Total Members |
| Indiana PERF |
16,247.3 |
254,168 |
| Indiana Teachers |
13,062.2 |
138,856 |
| Other Plans |
9,151.5 |
163,460 |
| Total |
38,461.0 |
556,484 |
Source: Public Plans Database (as of 2021)
Note: Indiana Public Employees Retirement System has 5 other plans.
Assets
Assets at Year-End
Indiana Public Employees Retirement System
2001-2021
| Fiscal Year |
Net Assets (billions) |
| 2001 |
15.9 |
| 2002 |
15.4 |
| 2003 |
16.3 |
| 2004 |
18.6 |
| 2005 |
20.2 |
| 2006 |
22.1 |
| 2007 |
25.9 |
| 2008 |
24.1 |
| 2009 |
19.5 |
| 2010 |
22.1 |
| 2011 |
25.7 |
| 2012 |
25.5 |
| 2013 |
27.0 |
| 2014 |
30.2 |
| 2015 |
29.8 |
| 2016 |
29.8 |
| 2017 |
31.8 |
| 2018 |
28.5 |
| 2019 |
30.3 |
| 2020 |
30.6 |
| 2021 |
38.5 |
Membership
Ratio of Actives to Beneficiaries, 2001-2021
| Fiscal Year |
Indiana Public Employees Retirement System |
US State and Local Pensions |
| 2001 |
2.7 |
2.4 |
| 2002 |
2.6 |
2.3 |
| 2003 |
2.5 |
2.2 |
| 2004 |
2.4 |
2.1 |
| 2005 |
2.3 |
2.1 |
| 2006 |
2.2 |
2.0 |
| 2007 |
2.2 |
2.0 |
| 2008 |
2.1 |
1.9 |
| 2009 |
2.1 |
1.9 |
| 2010 |
2.0 |
1.8 |
| 2011 |
1.9 |
1.7 |
| 2012 |
1.8 |
1.6 |
| 2013 |
1.7 |
1.5 |
| 2014 |
1.7 |
1.4 |
| 2015 |
1.6 |
1.4 |
| 2016 |
1.5 |
1.4 |
| 2017 |
1.5 |
1.4 |
| 2018 |
1.4 |
1.3 |
| 2019 |
1.4 |
1.3 |
| 2020 |
1.3 |
1.3 |
| 2021 |
1.2 |
1.2 |
2021 Membership for Indiana Public Employees Retirement System
| Actives |
Beneficiaries |
Inactive Vested |
Total Membership |
# of Participating Employers |
| 277,355 |
225,487 |
51,952 |
556,484 |
1,175 |
Cash Flows
Cash Flow vs. Total Assets (Millions)
Indiana Public Employees Retirement System
2001-2021
| Fiscal Year |
Cash Flow |
Assets |
| 2001 |
273.3 |
15,863.4 |
| 2002 |
133.2 |
15,375.9 |
| 2003 |
155.8 |
16,305.3 |
| 2004 |
-66.9 |
18,627.3 |
| 2005 |
-112.8 |
20,202.2 |
| 2006 |
0.4 |
22,148.7 |
| 2007 |
-62.3 |
25,876.1 |
| 2008 |
-42.3 |
24,095.6 |
| 2009 |
21.8 |
19,487.0 |
| 2010 |
-78.8 |
22,050.8 |
| 2011 |
-338.2 |
25,666.9 |
| 2012 |
-343.8 |
25,507.8 |
| 2013 |
-24.5 |
27,010.4 |
| 2014 |
-301.2 |
30,155.0 |
| 2015 |
-457.9 |
29,819.1 |
| 2016 |
-331.4 |
29,829.1 |
| 2017 |
-420.2 |
31,769.0 |
| 2018 |
-3,347.1 |
28,495.0 |
| 2019 |
-291.3 |
30,290.0 |
| 2020 |
-524.8 |
30,561.9 |
| 2021 |
85.4 |
38,461.0 |
2021 Cash Flows for Indiana Public Employees Retirement System (millions)
| Inflows |
Outflows |
Investment Gains (losses) |
Change in Net Assets |
| 2,690.4 |
2,604.9 |
7,813.7 |
7,899.1 |
Cash Flow as a Percentage of Assets
Indiana Public Employees Retirement System
2001-2021
| Fiscal Year |
Indiana Public Employees Retirement System |
National Average |
| 2001 |
1.7 |
-2.1 |
| 2002 |
0.9 |
-2.4 |
| 2003 |
1.0 |
-2.6 |
| 2004 |
-0.4 |
-2.0 |
| 2005 |
-0.6 |
-2.2 |
| 2006 |
0.0 |
-2.2 |
| 2007 |
-0.2 |
-2.1 |
| 2008 |
-0.2 |
-2.3 |
| 2009 |
0.1 |
-3.1 |
| 2010 |
-0.4 |
-3.2 |
| 2011 |
-1.3 |
-3.1 |
| 2012 |
-1.3 |
-3.3 |
| 2013 |
-0.1 |
-3.2 |
| 2014 |
-1.0 |
-2.9 |
| 2015 |
-1.5 |
-2.8 |
| 2016 |
-1.1 |
-3.0 |
| 2017 |
-1.3 |
-2.9 |
| 2018 |
-11.7 |
-2.6 |
| 2019 |
-1.0 |
-2.6 |
| 2020 |
-1.7 |
-2.4 |
| 2021 |
0.2 |
-2.1 |
