October 13, 2022 01:48 Updated Follow Yes. Your benefits are guaranteed by the full faith and credit of the state of Indiana. Related articles Will my pension money run out? What's the difference between a cost-of-living adjustment (COLA) and a 13th check? What is a benefit recipient? Does INPRS offer a budgeting worksheet to assist with monthly financial planning? My Jan. 1, 2022 TRF retiree payment shows a COLA tax. Has my payment been taxed?