The Iowa Public Employees' Retirement System (IPERS) is a defined benefit retirement plan. IPERS guarantees a lifetime monthly benefit payment, which is calculated using a formula based on years of service and salary. Your payment is not tied to the performance of the stock market. IPERS does all the investing and takes on all the risk. Learn more on the IPERS website.
You are eligible to participate in IPERS if you hold a regular full time or part time appointment and work 1,040 hours or more in a calendar year.
Temporary merit and P&S employees hired for a period of 6 months or longer are automatically eligible for IPERS, regardless of the number of hours they work. Temporary merit and P&S employees hired to work less than 6 months become eligible for IPERS when they earn $1,000 a quarter in two consecutive quarters.
Temporary faculty teaching half time or more for one semester are eligible for IPERS the second consecutive semester that they teach half time time or more. If temporary faculty are appointed to teach half time or more for the whole academic year, they are eligible for IPERS on the date of their appointment.
Contribution Rates — Percentage of Your Pretax Pay
|Contributions Effective July 1, 2012
|Contributions Effective July 1, 2013
IPERS' Online Resources to Help You