IPERS: Did You Know?

The Iowa Public Employees' Retirement System (IPERS) is the state's largest public retirement plan. The Iowa Legislature created IPERS in 1953. The system now includes more than 400,000 members, including public employees who teach Iowa's children, maintain our roads and parks, care for our most vulnerable residents and protect our citizens.

The truth about IPERS

How IPERS differs from a defined contribution plan

  • IPERS provides a guaranteed lifetime monthly benefit. Benefits from a defined contribution plan may not last until your death.
  • IPERS provides disability benefits to qualified members. Usually, defined contribution plans do not offer disability benefits.
  • IPERS' fees to manage its investment program are included in member and employer contribution rates. Members of a defined contribution plan typically pay very high management fees.

Advantages of IPERS membership

  • Contributions to IPERS are automatically deducted from the member’s pay check which guarantees saving for retirement.
  • IPERS provides predictable retirement benefits based on a formula, not stock market performance.
  • IPERS is a healthy, well-funded retirement plan. IPERS’ administrators continually scrutinize IPERS’ financial statements. With oversight from the IPERS Investment Board and the Benefits Advisory Committee, IPERS’ administrators continually evaluate the plan’s programs and sustainability.
  • The Iowa Legislature authorizes spending from the IPERS Trust Fund for administrative expenses. IPERS closely monitors and negotiates investment management expenses and operates with a small, efficient staff. View the latest Annual Comprehensive Financial Report.
  • IPERS provides death and disability benefits that protect you and your family.
  • You are always entitled to 100% of your IPERS contributions and interest earnings. If you change jobs to another IPERS-covered position, you will continue to contribute to your retirement account. If you leave IPERS-covered employment for a non-covered employer, you may leave your money with IPERS, receive a refund of your contributions or roll all or some of your money to another qualified retirement plan such as a 401(k) or an IRA.