Teachers, police and other public workers are urged to check for missing pension money.
INDIANAPOLIS — Teachers, police officers and other public sector workers in Indiana may have retirement benefits waiting for them — and there’s a database designed to help track them down.
The Indiana Public Retirement System, or INPRS, created the “Reclaim Your Retirement” database for current and former public employees who may qualify for pension benefits.
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For Lisa Oberle, those benefits created extra financial flexibility.
“It’s time to enjoy life, you know, and do more of what I’d like to do,” Oberle said.
Although she now works in the private sector, Oberle said she was able to begin collecting retirement benefits earlier than she expected.
“I thought that I had to wait until a certain age, but that was not the case for me,” Oberle said.
Oberle spent 37 years working in public service.
INPRS officials said confusion about eligibility is one reason they encourage workers to check the database — especially because some people may qualify sooner than they realize.
“We believe there may be some misconceptions that people must be retired from working any job or collecting social security, and it’s not true,” said Natalie Derrickson, with INPRS.
According to INPRS, median monthly pension payments range from about $560 to $790.
“The pension benefit does not get larger if you wait longer, so there’s no reason to wait if you qualify,” Derrickson said.
Officials said even people who opted out of contributing toward retirement should still check the database because employers may have contributed on their behalf.
INPRS also encourages surviving spouses to contact the agency to verify whether they qualify for survivor or beneficiary benefits.