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Trustee Resolution
October 30, 1998 - Regarding Retirement Plan Provisions
WHEREAS, Indiana statutes allow Indiana University to establish retirement plan provisions for specified positions (appointments), and exclude such positions from participation in the state's PERF retirement plan, and
WHEREAS, Indiana University has a specific financial goal in reallocating future base retirement plan funds for new hires and other newly eligible employees, to assist in funding existing early retirement plan obligations.
FURTHER BE IT RESOLVED, that
The Trustees of Indiana University establish the following retirement plan provisions:
Eligibility:
Plan Type:
Contribution:
Investment Options:
Vesting:
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IU employees with an Academic or Professional Staff Appointment of 50% or more, effective July 1999, or later.
Defined contribution plan in accordance with IRC Section 403(b)
IU contribution to individual participant-directed accounts equal to 10% of Base Salary, not to exceed IRS limits.
Investment fund options approved by Indiana University at TIAA-CREF and Fidelity Investments.
Participants are immediately vested in IU contributions and any investment earnings.
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FURTHER BE IT RESOLVED, that
The Trustees of Indiana University discontinue the IUSERP (IU Supplemental Retirement Plan), a qualified IRC Section 401(a) plan, for new hires and newly promoted individuals, effective July 1, 1999.
Additional Questions?
For questions about this resolution contact the University Human Resource Services Office
( or 812-855-2172).
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