University of Southern Indiana

Retirement Plans

Support Staff Employees

Defined Contribution Plan (TIAA-CREF)
Eligible support staff members hired on July 1, 2014 and after may participate after one year of employment. If you have been a member of a university-sponsored retirement plan or TIAA-Cref for at least one year, the waiting period may be waived. The University contributes 7% of annual salary to this plan.

Public Employees Retirement Fund (PERF)
Support staff members in eligible positions hired on or before June 30, 2014 participate in the Indiana Public Employee's Retirement Fund. Certain rehires may be defaulted in to this plan. The University contributes 11.2% of the employee's gross earnings towards a pension and 3% towards an annuity savings account, for a total contribution of 14.2% into the Indiana Public Employee's retirement Fund.

Access the PERF website for detailed information regarding benefits, vesting, newsletters, account management, benefit calculator and forms.


Faculty and Administrative Employees

Defined Contribution Plan (TIAA-CREF) 
Eligible faculty and administrators may participate after one year of employment. If you have been a member of a university-sponsored retirement plan or TIAA/CREF for at least one year, the waiting period may be waived. The University contributes 11% of annual appointment salary to this plan.

All Employees 

Supplemental Retirement Plan 
All full-time and part-time employees are eligible to enroll in this plan except for student workers and non-resident aliens. This plan is used to defer your income on a pre-tax basis for retirement savings purposes. To enroll, complete the Voluntary Salary Deferral Form and submit it to Human Resources.  You will then need to set up an account online with TIAA-CREF. There is no waiting period.

Annual Contribution Limits
The Internal Revenue Service dollar limitations for pension plans and other retirement-related items are shown below.

Retirement Plans 2017 2016 2015 2014
Elective Deferrals 
401(k)/403(b) - 402(g)(1)
18,000 18,000 18,000 17,500
Catch-up Contributions
414(v)(2)(B)(i)
6,000 6,000 6,000 5,500
457 Elective Deferrals
457(e)(15)
18,000 18,000 18,000 17,500
Defined Contribution Limits
415(c)(1)(A)
54,000 53,000 53,000 52,000
Social Security 
Taxable Wage Base
127,200 118,500 118,500 117,000

Social Security Administration
A system administered by the federal government through the Social Security Administration providing old age, survivor's disability, and retirement benefits. The cost is shared by the University and the employee. Effective January 1, 2017: 6.2% of salary up to $127,200 for old age, survivor's, and disability insurance, and 1.45% of all covered wages for Medicare hospital insurance.

Employees are strongly encouraged to request a Social Security Personal Earnings and Benefit Estimate Statement (PEBES). The PEBES is a statement of a person's lifetime earnings and an estimate of future benefits. There is no cost to secure this statement and you do not need to be approaching retirement age; any individual who has paid any social security taxes during his/her working career may request a statement at any time. 

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