Why IPERS calls you a member

     You are a part of a “member-owned” trust fund and you have rights to the benefits provided by the IPERS plan. You become a member and gain membership rights when you start contributing to IPERS. Membership rights increase when you become vested in IPERS. You vest after four years of membership or when you turn age 55 if you are contributing to IPERS.
     IPERS deposits contributions in the trust fund, which was established by Iowa law, and invests the contributions to grow the fund. The law says the trust fund can be used only to pay benefits promised to members plus reasonable costs to operate the plan.
     You keep your membership rights even if you are no longer working in a job covered by IPERS, as long as you do not withdraw your contributions. Retirees also continue to be IPERS members.