From the CEO: Fundamentals in focus

During fiscal year (FY) 2007, IPERS focused on the fundamental reasons we exist—to help our employers recruit and keep quality employees in public service, and to help our members care for themselves in retirement.

How is IPERS doing?
IPERS provides a stable, predictable retirement income. Our members never have to worry about outliving their IPERS benefits. Disability payments and death benefits act as a safety net for members and their families.

Employees value IPERS. Benefits increase the longer an employee works, providing an incentive to continue working in public employment.

Benefits are prefunded. Employees contribute today for their own future retirements. The legislature increased contributions starting in FY2008 and investment returns have been strong, helping to ensure IPERS does not become a financial burden future generations must bear.

IPERS has a positive economic impact on Iowa communities. During FY2007 IPERS benefit payments totaled $1,013,972,987, and $894,585,954 of that—over 88%—was paid in Iowa. And as one of our out-of-state retirees once reminded me, those who no longer live in Iowa may still have ties to Iowa and visit throughout the year.

Donna M. Mueller, CEO

IPERS fundamentals

• A defined benefit plan with guaranteed, lifetime benefits based on a formula. 
• One part of a three-part strategy that includes social security benefits and personal savings to achieve a secure retirement.
• Prefunded, with today’s workers contributing for their own future retirements so costs are not shifted to future generations.
• Protection against the unexpected, with disability benefits and pre- and postretirement death benefits.
• A valued employee benefit that grows as years of service grow, helping public employers recruit and retain employees.
• A positive impact on Iowa's economy, returning nearly $900 million in benefit payments to Iowans in FY2007.