Retirement

Professional Staff (employees in certain administrative, professional, and IT positions) participate in the IU Retirement Plan. Each month, IU makes a generous contribution (an amount equal to 10 percent of your base salary) to a 403(b) retirement account. There are a wide variety of ways to invest: stocks, bonds, fixed annuity, and money markets. You make all the decisions about how to invest the funds you accumulate. Employees are immediately 100 percent vested in contributions and account earnings and there are no restrictions on withdrawals when you leave the university. Also, your contributions and earnings are portable.

Support and Service Staff (employees in positions such as clerical, technical, and maintenance) are enrolled in the state of Indiana's Public Employees' Retirement Fund (PERF). This plan consists of two parts, both of which are funded by IU: a pension benefit and an annuity savings account benefit in your name. The pension benefit is a lifetime monthly payment based on your years of service and final salary; the annuity savings account benefit is based on monthly contributions made by IU plus your investment earnings. You may choose to invest your annuity savings account in any combination of five different funds.

Supplemental Retirement Plans
Employees can participate in either or both of the following voluntary retirement plans: IU Tax Deferred Annuity (TDA) Plan, a 403(b) tax-deferred account and IU Retirement Savings Plan, a 457(b) salary-deferred plan account.