The staff member may choose either to participate in TIAA or to participate in IPERS. Serious consideration must be given to choosing a retirement plan. It is an irrevocable decision. Once one retirement program is elected over the other, you have waived your right to participate in the other retirement program in the future during your employment with The University of Iowa. If you do not log on to Employee Self Service and make your Retirement Election within 60 days of your hire/eligibility date, you will automatically be enrolled in the IPERS retirement plan.
Retirement plan contributions will begin on the first paycheck. If a Retirement Plan Election Form is not submitted before the first paycheck, IPERS contributions will be automatically deducted. If TIAA is later elected before the end of the 60 day election period, IPERS contributions will be refunded, and TIAA contributions will begin on the following paycheck.