Contributions

How much do I contribute to IPERS and is contributing mandatory?
Most IPERS members are “regular” members and pay a contribution rate set in law that is mandatory for all regular members. Special Service members pay at rates determined by IPERS’ actuary. These rates may change each year. Special Service members include sheriffs, deputy sheriffs, and members in other types of protection occupations.

Can I contribute more than the required amount?
No. You contribute a predetermined percentage of your wages. The amount of your monthly pension is based on a formula, not on the amount of your contributions. The formula includes how many years you have worked, your age when you retire, and the average of your salary during the three years that you earned the most.

Do I decide how to invest my contributions or worry if stocks go down?
No. IPERS is a defined benefit plan, which means at retirement you will receive a monthly amount guaranteed for life regardless of how the stock market performs. IPERS makes all investment decisions and IPERS, not individual members, bears the investment risk. The IPERS Investment Board and a staff of certified investment professionals oversee all investment activities. Read more about the difference between the IPERS plan and other types of retirement plans.

How long must I contribute?
You must contribute as long as you are working in a job covered by IPERS.

May I apply for a loan or a hardship withdrawal?
No. IPERS does not have provisions for loans or hardship withdrawals of contributions.

Can I use IPERS as collateral for a loan?
No.