For Members Nearing Retirement
Important Information About Your IPERS Retirement Benefits |
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Retirement Is an Exciting Time
As you prepare for this significant milestone, it’s important that you understand how your IPERS benefits work and what you need to consider before you retire.
Remember, your IPERS benefits are only one part of your overall retirement savings. Your total retirement income will come from a combination of your IPERS benefits, social security, personal savings, and any other retirement plan benefits.
As you think about how much income you’ll need during your retirement years, you may want to consider:
- How much income will I receive from other sources like Social Security and personal savings?
- What IPERS retirement payment option should I choose?
- What do I want to do during my retirement years? Will these plans require extra savings?
- Will I need to pay for retiree health insurance?
- Will I be an “empty nester” or will my children still be financially dependent on me?
- Will I have a mortgage payment?
- Will I take up new hobbies that I need to budget for?
- Will I return to work after retirement?
Header Photo Credit: Clay Smith, Iowa Department of Natural Resources
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