UNIVERSITY RETIREMENT PLANS
Choosing your retirement plan is an irrevocable decision, so we urge you to give it serious consideration. You must complete the Retirement Election Form within 60 days of your hire date: http://www.uiowa.edu/hr/benefits/retire/retirement_election_form.pdf
The University has two retirement plans from which you may choose, both with generous University contributions. One plan is a defined contribution plan and the other is a defined benefit plan.
In a Defined Contribution plan, your retirement income depends upon your individual investment returns. In a Defined Benefit plan, retirement income is determined by a formula based on your years of service and salary earned. There is a comparison of the plans below.
- IPERS and TIAA-CREF Comparison web page 2013, or print-friendly PDF file 2013
- Retirement Program Election Form
- IPERS Exemption Claim Form (physicians and other professionals with private practices)
- IPERS Web site
- TIAA-CREF Web site
(contact and release-time information)
- TIAA-CREF (SPANISH VERSION) website
- TIAA-CREF withdrawal Policy (Repurchase information)
- Cash withdrawal/Refund FAQs (IPERS & TIAA-CREF)
In addition to excellent retirement plan options, The University provides opportunities for free financial education for all staff:
Retirement Information Modules
This includes online training on your choices and a TIAA-CREF enrollment walkthrough
- Instructor-led Classes
Classes are offered monthly through the Benefits Office and UI Learning and Development. The schedule is available on the University Benefits Office home page.