The IU Retirement Plan for Academic and Professional Staff Employees is a section 403(b) defined contribution retirement plan. All Plan contributions are made by Indiana University. Participants are not required, nor permitted, to make additional contributions to the plan.
Similarly, when can I retire from IU?
IU Retiree Status Eligibility
*For employees covered by the PERF retirement plan and separating at age 60, 61, or 62, Retiree status is reached with at least 15 years of IU service.
Secondly, what is a 403 B TDA plan?
What is a tax-deferred annuity plan? … Sometimes, a TDA plan is also referred to as a voluntary savings plan, a supplemental plan, a tax-sheltered annuity (TSA) or simply a 403(b) plan. A TDA plan is an employer-sponsored Defined Contribution retirement plan to which you can contribute a percentage of your base salary.
Does IU offer tuition reimbursement?
While IU Health offers some select tuition reimbursements (i.e. nursing), team members are only eligible to receive reimbursements from one program per year. The team member is responsible for ensuring that she/he does not exceed the Internal Revenue Service annual limit ($5,250 for 2019).
How do you find the Rule of 85?
The 85 point rule is when your age and years of service credit added together equal 85. Every year you work, you will gain two points – one for each birthday and one for the year of service credit.
When can I retire with perf?
En español | The earliest you can start collecting retirement benefits is age 62. You can apply once you reach 61 years and 9 months of age. However, Social Security reduces your payment if you start collecting before your full retirement age, or FRA.
When can I start drawing perf?
Retirement from PERF or TRF means you receive a monthly retirement benefit payment. You can apply for full PERF/TRF retirement benefits if you have at least 10 years of service and are at least age 65 or are at least age 60 with 15 years of service.
Does IU offer health insurance?
Indiana University makes health insurance plans at reasonable prices available to students. The following options are available for qualifying graduate students.
What is individual unemployability?
Individual Unemployability (IU) is a unique part of VA’s disability compensation program. It allows VA to pay certain Veterans compensation at the 100 percent rate, even though VA has not rated their service-connected disabilities at that level.