PERF and TRF to Merge

PERF and TRF to Merge

A bill to start the process of merging the state‘s two largest pension funds is headed to Govenor Mitch Daniels‘ desk. The house and senate voted to authorize the consolidation of the Indiana public employees retirement fund (PERF) with the Indiana teachers retirement fund (TRF). The PERF system is currently responsible for paying benefits to 220,000 police, firefighters and government employees.

The Indiana teachers retirement fund (TRF), covers 160,000 Hoosier educators. Senator Luke Kenley (R-Noblesville) calls the effort the result of bipartisan negotiations. Governor Daniels believes combined administration might save the pensions tens of millions of dollars in annual investment fees if their money-management decisions are made in unison..