Employers' Guide to IPERS Pension Benefits That Attract and Retain Top Talent

A Plan Designed to Meet Members' Needs

For more than 50 years, IPERS has covered—and continues to cover—most Iowa public employees. With approximately 300,000 members and about 2,400 covered employers, IPERS is the largest public retirement system in Iowa. IPERS offers retirement benefit stability and security that covered members can count on.

IPERS was established for the sole purpose of providing core retirement benefits to public employees and designed to supplement social security benefits and personal savings.

As a defined benefit plan, the benefit IPERS members receive is calculated using a formula. A member’s benefit increases as his or her years of service and salary increase.

During fiscal year 2005, IPERS paid over $868 million in benefits. Over 88 percent of those benefits were paid to retirees and beneficiaries living in Iowa. Benefits are distributed to retirees and beneficiaries living in all 99 counties.

IPERS’ Membership

Most public employees in Iowa automatically become members of IPERS when they start employment with a covered employer. Covered employers include:

Some employees (listed below) have a choice between IPERS coverage and other retirement benefits. For many of these employees, IPERS coverage may be the best alternative. Be sure to provide these employees with the About IPERS publication and advise them that before making a choice, they should call IPERS to find out why IPERS might be the right choice for them.

• Employees hired by the Board of Regents, including state universities
• Employees of community colleges
• City managers
• City administrators performing the duties of city managers
• Legislators
• Temporary legislative employees
• Magistrates
• Part-time elected officials
• Elected officials paid on a fee basis
• Elected officials of school districts
• Elected officials of townships
• Nonvested employees of levee and drainage districts
• Employees of public community action agencies
• Members of the ministry, rabbinate, or other religious orders who have taken a vow of poverty
• Members of the Iowa Transportation Commission
• Members of the Iowa Board of Parole
• Members of the Iowa Health Facilities Council
• Persons employed by the Board of Trustees of the Iowa Municipal Fire and Police Retirement System
• Employees of a municipal water utility or waterworks that has a pension plan pursuant to Iowa Code Chapter 412