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With a defined contribution plan, such as a 401(k) or 403(b) plan, you take on the investment risk. Benefit amounts are not guaranteed or easy to predict. IPERS provides death and disability benefits. These benefits protect you and your family.
Plan Coverage Eligible employees are IPERS- covered unless they elect to participate in an eligible alternative retirement plan. State Board of Regents. Eligible employees are IPERS-covered unless they elect to participate in a retirement system qualified by the Board that meets the criteria of Iowa Code section 97B.
Both you and your employer contribute to IPERS. Your contributions are pooled and invested to pay for future benefits. At retirement, your benefit is calculated based on your age at retirement, average salary and years of service. The longer you work in public service, the larger your benefit.
Insurance, Retirement, and More Feel confident knowing you and your family are protected. Traditional benefits include comprehensive health, dental, disability and life insurance options, plus generous retirement plans.
Retirement Plans Eligible employees may select one of two mandatory options, IPERS or TIAA, with both offering a robust employer match.
All employees (except house staff, fellows, adjunct faculty, and students) with employment expected to last six months or more must participate in a retirement plan. Must be a U.S. citizen or lawful permanent resident. IPERS is the University's default plan and is already selected within Employee Self Service.