Contact

University Benefits

Email
benefits@uiowa.edu
Phone
319-335-2676
Campus Address
120 USB
Hours
Monday-Friday, 8 a.m.-5 p.m.
The university's contributions to the retirement programs you've selected end with your last paycheck. But depending on the program you've chosen, you can leave the funds you've accumulated in place or you request a distribution/refund.

TIAA Retirement Funds

You can leave your accumulated funds with TIAA until you retire or choose to move them to another retirement plan. IRS regulations require that you begin to take minimum distributions from your retirement accounts once you turn age 70 1/2.

You can request a refund from your TIAA account after your job ends, but may incur a 10% tax penalty if you withdraw retirement funds prior to age 59 1/2. Refund details vary depending on how much money you've accumulated and how it is invested.

Contact TIAA for additional information about your options:

  • TIAA customer service: 800-842-2776
  • TIAA Coralville office: 319-356-8000
  • www.tiaa.org 

Find additional information about TIAA refunds.

IPERS Retirement Funds

You can leave your accumulated funds with IPERS until you retire or choose to move them to another retirement plan. (If you get a new job with another IPERS-covered employer—for example, a different Iowa state agency—you must leave your funds in IPERS.)

Alternatively, you can request a refund from IPERS after your job ends (provided you don't go to work for another IPERS-covered employer). An IPERS refund is considered taxable income and may be subject to an additional 10% tax penalty if taken prior to age 59 1/2.

Find more information about IPERS refunds or contact IPERS at 800-622-3849 to request a refund form.