Retirement Benefits at the University of Iowa
Whether you're planning ahead or preparing to retire soon, this page provides key information to support your retirement journey.
The University of Iowa offers two mandatory retirement plans—IPERS and TIAA—based on your employment classification. You can also choose to participate in voluntary savings plans, including 403(b) and 457(b) accounts, to help build additional financial security.
This page also includes resources to help you retire from the university, such as:
- Eligibility requirements
- Benefit transition details
- Planning tools and guidance
Our goal is to help you make informed decisions and feel confident about your future.
Mandatory Retirement Plans
The University of Iowa offers two mandatory retirement plan options for benefit-eligible employees. Participation is required for regular faculty and staff with appointments expected to last six months or more.
Employees must choose between:
- Iowa Public Employees’ Retirement System (IPERS)
- Teachers Insurance and Annuity Association (TIAA)
If no election is made within 60 days of hire or eligibility, employees are automatically enrolled in IPERS. These plans are designed to help employees save for retirement and plan for their financial future.
Mandatory Retirement Plans
Choose between two plans, IPERS or TIAA. Make your election within 60 days of your hire date.
Voluntary Retirement Savings Plans
In addition to mandatory retirement contributions, the University of Iowa offers voluntary savings plans to help employees plan for retirement.
These options allow eligible employees to make pre-tax or after-tax (Roth) contributions beyond the required amount, offering greater flexibility and control over their retirement savings.
Retiring from the University
When you're ready to retire, you must make important financial and health benefits decisions.
Preparing for Retirement
Retirement is an important milestone, and the University of Iowa is committed to supporting employees through this transition.
Whether you are planning for full retirement or considering a phased approach, this section outlines the steps, eligibility requirements, and available benefits to help you make informed decisions.
Retirement Fund Investment Committee
Our Retirement Fund Investment Committee (RFIC) oversees the investment options available to you, ensuring they align with financial goals and the university's commitment to supporting your retirement planning.
ABOUT OUR SITE:
The information on our website describes only the highlights of the plans and does not constitute official plan documents. Additional terms and conditions may apply. If there are any discrepancies between the information contained herein and the official plan documents, the plan documents will govern.