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Defined Contribution Plan (TIAA)
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 for at least one year, the waiting period may be waived. The University contributes 7% of annual salary to this plan.

Indiana Public Retirement System (INPRS)
Support staff members in eligible positions hired on or before June 30, 2014 participate in the Indiana Public Retirement System. 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 Retirement System.

Access the INPRS website for detailed information regarding benefits, beneficiaries, vesting, newsletters, account management, benefit calculator and forms. The Perf at a Glance brochure is also a great resource.

Defined Contribution Plan (TIAA) 
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 for at least one year, the waiting period may be waived. The University contributes 11% of annual appointment salary to this plan.

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 or post tax (Roth) 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. There is no waiting period. 

Remember to keep your beneficiaries up to date at TIAA. 

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, 2022: 6.2% of salary up to $147,000 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. 

TIAA holds monthly webinars through its interactive site called the Virtual Environment: www.tiaa.org/ve. This innovative resource offers users 24/7 access to a wide range of articles, on-demand seminars, and live monthly seminars on a variety of essential financial topics.

To schedule an appointment with a TIAA representative, call 800-732-8353 or visit the website.

TIAA Representative:

Michael Dooley

Next onsite meetings:

  • April 13, 2023

PERF is currently conducting phone appointments and in-person appointments at select locations.  These can be scheduled online athttps://www.in.gov/inprs/retirement-education/workshops-and-counseling/ or you may call the Member Advocate Number at 844-GO-INPRS (844-464-6777) to set up an appointment.  You may tell them that you want to set up an 1 to 1 Retirement Counseling appointment with Michael Rust in the Southwest Region.

If you are wanting to submit your Retirement Application, you will need the following information.

  •   For Survivor or Beneficiaries: Name, address, phone number, social security number, and birth date (email optional)
  •   Federal tax withholding percentage
  •   For Rollover: name of organization the rollover check needs to be made to
  •   Bank Information: Routing number and account number (or bring a check)

By registering, members will receive their own retirement benefit estimate in the mail.  It’s very helpful to have this estimate with available for the session. 

INPRS Representative:

Michael Rust

Each Spring the University hosts Retirement Workshops. The University invites the Social Security Administration, State Health Insurance Assistance Program (SHIP), TIAA, PERF and more to give workshops to help educate employees about their retirement options. As the event nears, check out the webpage for the event.  

America Saves Week

Saving enough for the future doesn’t happen overnight. That’s why it’s so important to keep taking small steps now that can make a big difference later. To celebrate America Saves Week this year, challenge yourself to contribute an extra penny on every dollar to your retirement account. That’s just 1% now with the potential for a lot more in growth by the time you retire. And with pretax contributions, more money goes into your account than comes out of your paycheck. One percent doesn’t seem like much now, but look at the difference between saving 3% and 4% over time!

Don’t delay – start today. Tell your employer that you want to save more now!

Need help with budgeting and managing debt? Help is right here! You can also watch a short video on paying down credit card debt management here!

Join a webinar during America Saves Week

Tuesday, February 28, 2023 1pm ET | Paying Down Debt is Saving

Inside Money: Managing income and debt

Registration Link: https://event.on24.com/wcc/r/4084868/9A4F48717571A07B7AF6D680190D2B6E

Wednesday, March 1, 2023 1pm ET | Saving for Major Milestones

Opening doors to the future – Save in a 529 college savings plan

Registration Link: https://event.on24.com/wcc/r/4084894/0CC2F380FE14A3CC7F5C00B83EA9F93D

Thursday, March 2, 2023 1pm ET | Putting Your Money to Work for You

Invest for Success: 5 Principles you need to know

Registration Link: https://event.on24.com/wcc/r/4086684/D1127504E3B87D9DA7617A1E3EDAF747

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

Retirement Plans 2023 2022 2021 2020 2019 2018 2017
Elective Deferrals 
401(k)/403(b) - 402(g)(1)
22,500 20,500 19,500 19,500 19,000 18,500 18,000
Catch-up Contributions
414(v)(2)(B)(i)
7,500 6,500 6,500 6,500 6,000 6,000 6,000
457 Elective Deferrals
457(e)(15)
22,500 20,500 19,500 19,500 19,000 18,500 18,000
Defined Contribution Limits
415(c)(1)(A)
66,000 61,000 58,000 57,000 56,000 55,000 54,000
Social Security 
Taxable Wage Base
160,200 147,000 142,800 137,700 132,900 128,700 127,200