The Indiana State Teachers’ Retirement Fund (TRF) is one of two pension options available to faculty and professional employees who qualify for benefits.
The university contributes the state mandated contribution percentage to the employee’s pension account and annuity savings account.
Voluntary Employee Contributions
After-tax contributions can be made from 1 percent to 10 percent of the employee's gross pay. Contributions are sent on a quarterly basis and invested in the same manner as the regular annuity contract. Download forms.
Pre-Tax Contributions may be made from 1 percent to 10 percent of the employee's gross pay (certain deadlines and time limits apply). Contributions are sent on a quarterly basis and invested in the same manner as the regular annuity contract. Once this pre-tax election is made, it is irrevocable and unchangeable regardless of the employee's life circumstances unless the employee terminates employment with Ball State University.
Pre-tax forms can be obtained by contacting the Office of Payroll & Employee Benefits. A consultation is required with PEB before completing the pre-tax contribution form.
After-tax and pre-tax contributions may be made simultaneously but may not exceed 10 percent of employee's gross pay combined.
Deductions are taken from every paycheck regardless of employee type.
Ten years of TRF and/or PERF credited service entitles the member to a monthly benefit at age 65.
Fewer than 10 years of credited service yields no pension benefit, only the annuity savings.
Eligibility for Pension Benefit Payment
A member who has attained vested status will be entitled to benefits when meeting the age and service requirements for either early or normal retirement.
- age 65 with 10 years of service
- age 60 With 15 Years of service
- age 55 if age and creditable service total at least 85 (“Rule of 85”)
- early retirement with reduced benefits between aged 50-59 with 15 years of service
To learn about eligibility to participate in the plan, your enrollment window and more information, please visit the TRF website.