About IPERS
The Rewards of IPERS Membership |
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A Plan Designed for You
The IPERS plan is a defined benefit plan. The lifetime monthly benefit you receive is defined; it’s calculated using a formula. Your benefits grow with you during your working career. As your years of service and salary increase, your IPERS benefits grow too.
IPERS, a public agency, was established for the sole purpose of providing a retirement plan to public employees of the state of Iowa. As a public agency, there is no profit mentality and IPERS’ interests are aligned with those of members.
The average monthly benefit paid to members retiring in fiscal year 2007 was $1,506. IPERS benefits, designed to supplement personal savings and social security benefits, help ensure members have the financial security to do the things they want during retirement. Benefits also offer financial protection for families in the event of death or disability.
Strength in Numbers: Our Membership
For more than 50 years, IPERS has covered—and continues to cover—most Iowa public employees. With over 300,000 members and about 2,300 covered employers, IPERS is the largest public retirement system in Iowa. IPERS offers retirement benefit stability and security that covered members can count on.
Most public employees in Iowa automatically become members of IPERS when they start employment with an IPERS-covered employer. Covered employers include:
- Schools
- Counties
- State agencies
- Cities
- Townships
- Other public employers
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Some employees (listed below) have a choice between IPERS coverage and other retirement plans. For many of these employees, IPERS coverage may be the best alternative. If you fall into one of the following categories, call IPERS to learn why IPERS coverage may be the right choice for you.
- 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
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- Nonvested employees of levee and drainage districts
- Employees of 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
- Employees of the Board of Trustees of the Municipal Fire and Police Retirement System of Iowa
- Employees of a municipal water utility or waterworks
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