13th check
A one-time extra payment the Indiana General Assembly sometimes grants retirees. The amount depends on your years of service. It doesn't raise your monthly pension.
Hybrid Handbook p. 44, §10.2More on this →These are the words you'll meet in INPRS letters and on these pages. To put them to work, open the handbook example in the calculator, or start with the formula and which plan you're in.
Airtime
Extra service credit you can buy once you have 10 years, up to 1 year for every 5 years you've earned. It raises your pension but doesn't count toward vesting.
Hybrid Handbook p. 22More on this →Creditable service
The time that counts toward your pension. You earn a year for 120 or more days worked in a July-June year, and a half year for 60 to 119 days.
Hybrid Handbook p. 6, §1.6; p. 14, §4More on this →DC account (Defined Contribution)
Your own account in TRF Hybrid, made up of the 3% mandatory contributions, any voluntary contributions and investment results. It was formerly called the annuity savings account (ASA).
Hybrid Handbook p. 6, §1.6More on this →Final average salary
The average of your five highest years of pay in covered work, used in the pension formula. The years don't have to be in a row.
Hybrid Handbook p. 31, §7.5More on this →Five-Year Certain and Life (Option A-1)
The standard way TRF pays your pension. You're paid for life, and if you die before 60 payments, your beneficiary gets the rest of the 60.
Hybrid Handbook p. 35, §7.12; p. 30, Table 1More on this →LDIP (last day in pay)
Your last paid day of work. Your retirement takes effect on the 1st of the following month.
Hybrid Handbook p. 29, §7.2Millie Morgan Retirement
If you're 65 with 20 years, you can start your pension while you keep working in your TRF job. The choice is permanent.
Hybrid Handbook p. 32, §7.7More on this →Pre-'96 and '96 Accounts
The two TRF accounts that pay pensions. Which one pays yours depends on when you joined and whether you changed employers. Both pay the same formula.
Hybrid Handbook p. 8, §2.1More on this →RSA (Rollover Savings Account)
Money you rolled into TRF from another qualified plan or IRA, plus its earnings.
Hybrid Handbook p. 6, §1.6Rule of 85
You can retire with a full pension at 55 or older if your age plus your years of service add up to 85 or more. Months count.
Hybrid Handbook p. 29, §7.1More on this →Social Security Integration
A payment option if you retire between 50 and 62. It pays more before 62 and less, possibly nothing, from 62.
Hybrid Handbook p. 36, §7.12More on this →SRA (Supplemental Reserve Account)
The INPRS account, funded by the Hoosier Lottery and employer surcharges, that pays for 13th checks and COLAs.
INPRS Understanding SRAs and COLAs (Dec. 29, 2023, updated May 22, 2025)More on this →TRF My Choice
The account-only retirement plan that new hires since July 1, 2019 can choose instead of TRF Hybrid. It has no monthly pension.
My Choice Handbook p. 5, §1.1More on this →Vested
Having the 10 years of TRF and PERF service needed for a pension. You're always vested in your own DC account.
Hybrid Handbook p. 14, §4.1More on this →Source: Teachers' Retirement Fund Hybrid Plan Member Handbook, Effective 07/01/2025, pp. 6, 8, 14, 22, 29, 30, 31, 32, 35, 36, 44. Also: My Choice Handbook p. 5; INPRS Understanding SRAs and COLAs (Dec. 29, 2023, updated May 22, 2025). Last reviewed .