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November Dividend FAQ

To offset the negative impacts of inflation, Iowa lawmakers passed a law (Iowa Code Section 97B.49F) to provide lump-sum payments called dividends to retired IPERS members.

The November dividend is provided to members who retired June 30, 1990 or before. The November dividend is paid once a year. It does not increase a retiree's monthly benefit amount.

A. IPERS does not have a traditional cost-of-living adjustment, which means your monthly benefit amount stays the same throughout your life. The Iowa Legislature created the November dividend to help you manage the impact of inflation.

A. IPERS retirees who started receiving monthly benefits before July 1, 1990, receive a November dividend every year.

A. Yes. Iowa law provides that you will receive your November dividend every year for the rest of your life.

A. No. The law requires IPERS to pay a November dividend that is at least as much as the dividend you received last year.

A. Yes. The law allows IPERS to increase your November dividend under certain circumstances. The increase is associated with the lowest of the following three factors:

  • The percentage increase of the prior year's Consumer Price Index (CPI),
  • The percentage increase the actuary tells IPERS that will not increase employee and employer contributions, or
  • 3 percent.

For the 2017 November dividend, the lowest of the three is the percentage of the CPI, which is 1.0 percent.

A. No. The full amount of the November dividend payment is made in November only.

A. No. Your November dividend payment is included with your regular November benefit payment.

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