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

Attracting and Retaining a Quality Workforce

Finding and keeping talented employees is a challenge that many employers face. The primary assets of an organization are the talents of its people, not the tangible and financial assets of budget sheets. The cost of finding key talent and replacing staff who leave is expensive and time-consuming.

The IPERS Plan can help you attract and retain talented employees for these reasons.

• The longer members remain in the IPERS Plan, generally, the greater their retirement benefits will be—an incentive to remain with an IPERS-covered employer.
• While many employers are changing from defined benefit to defined contribution plans to shift investment risk to employees, IPERS allows you to offer your employees the security of a guaranteed retirement benefit not susceptible to stock market fluctuations.
• IPERS also offers your employees a chance to increase the amount of service used in their benefit calculation through a service purchase.

The average lifetime monthly benefit paid to members who retired in fiscal year 2005 was $1,283. This benefit, combined with personal savings and Social Security, helps ensure your employees have financial security during retirement.