Free 49282.FH11 - Indiana

NOTICE TO MEMBERS CONSIDERING THE SOCIAL SECURITY INTEGRATION OPTION 61
State Form 49282 (R / 10-08)

PUBLIC EMPLOYEES RETIREMENT FUND 143 West Market Street Indianapolis, Indiana 46204-2899

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INSTRUCTIONS: 1. Please Read the following notice. 2. Sign and date the form. 3. Return the completed form directly to PERF at the above address.

Dear Retiree: If you elect the Integration with Social Security Option 61, you will receive a higher monthly benefit prior to age sixty-two (62), then a greatly reduced or terminated monthly benefit after age sixty-two (62). This option offers an attempt to level benefit payments for someone wishing to retire prior to being eligible for Social Security benefits. However, experience has shown anyone choosing this option who subsequently returns to work prior to age sixty-two (62) in a position covered by PERF and makes more than the Social Security exempt amount for the calendar year may realize a significant financial loss. Under these circumstances, your employer must reenroll you in PERF and your increased monthly benefits will be suspended. When you retire a second time, you will have to decide how you want to receive your monthly benefits based on your initial retirement. 1. Continue monthly benefits under the Integration with Social Security Option 61. Again, the benefit reduction or termination will occur at age sixty-two (62). All that will be due will be the supplemental benefit due to the second retirement plus the reduced amount of the initial retirement. Transfer to the Normal Retirement Option 10. In this case, you will be required to repay the additional monthly benefits received during the initial retirement (monthly amount times number of months paid). If you chose to transfer to Option 10, your benefit will not reduce or terminate.

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This information is provided to ensure you realize the consequences of re-employment prior to age sixty-two (62). We request that you sign and date this letter and return it in the enclosed envelope to acknowledge that you have read and understood its contents. If you wish to change your retirement option after reading this notice, please contact either your employer or PERF to complete a new retirement application. If you have further questions, please feel free to contact our office.

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