University Human Resources
IU Supplemental Retirement Plans
Supplemental retirement plans can help employees save more for retirement. These plans are sponsored by IU, but contributions are made by the eligible employee. The advantages of these plans include:
- Contribute money through IU’s payroll on a pre-tax basis.
- Lower current income taxes.
- Systematic retirement savings—contributions are made systematically with IU’s payroll schedule.
See this page of Frequently Asked Questions for a more comprehensive, detailed understanding.
IU partners with Fidelity Investments and TIAA-CREF to offer two IU-sponsored plans: the IU Retirement Savings Plan and the IU Tax Deferred Account Plan.
- IU Retirement Savings Plan
- IU Tax Deferred Account (TDA) Plan
- Similarities and differences between the two plans
- Maximum contribution limits for each plan
Importance of saving and starting now
The need to save more money for retirement years has never been greater. The rising cost of living, including healthcare expenses and increasing life expectancy, has dramatically increased the amount of savings a person will need during retirement years.
Whether retirement is 30 years away or only a few years away, significant progress can be made toward accumulating more money for retirement years by starting now. Contributing even small amounts to an IU-sponsored supplemental retirement plan can help boost retirement savings.