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IU Retirement & Savings Plan

The IU Retirement & Savings Plan for Support and Service Staff Employees is a section 401(a) 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.

The information on this page is only a summary. Review the Retirement & Savings Plan – Plan Document (PDF) for a detailed description of the terms and conditions of the Plan.

Eligibility

To be eligible to participate in the plan, an employee must have been hired on or after July 1, 2013 and be in a:

  • Support or Service Staff position at 50% or more full-time equivalent (FTE); or
  • Temporary with Retirement position.
For employees hired prior to July 1, 2013, see PERF.

Enrollment

Step 1 Eligible employees are automatically enrolled in the plan.
Step 2 Establish a plan account through TIAA and/or Fidelity.

Note: If you already have an online account through TIAA or Fidelity for an IU retirement plan (i.e., an account that has received contributions within the last 12 months), you do not have to open a new account online.
Step 3 Make your investment allocations and beneficiary designations through your online account.

Investment allocations and beneficiary designations must be made separately for each plan you are enrolled in. If you do not make any investment allocations, you will be placed into a default investment mix that is age appropriate and contains a mixture of stocks and bonds.

Contributions

The plan has two separate and distinct contribution components.

  1. Retirement & Savings Plan Contribution
    A participant will receive an amount equal to 4 percent of actual base wage for each regular per pay period of participation in the plan. Base wage does not include any supplemental pay received by the eligible participant during the pay period.
  2. Retirement & Savings Plan Match Contribution
    A participant will receive an amount equal to the participant’s designated contributions to the IU Tax Deferred Account Plan (TDA) during such pay period, up to 4 percent of actual base wage received during such pay period. 

Vesting

Participants in the plan are subject to a three-year cliff-vesting requirement. This means that an employee is fully vested in the plan after three years of IU employment.

Investments

This is a participant directed plan. This means that you are responsible for directing the investment of your plan account. Indiana University has approved of the following investment companies under the plan:

Fidelity Investments
www.netbenefits.com/indiana
800-343-0860

TIAA
www.tiaa.org/indiana
800-842-2252

Your investment selections should reflect your savings goals, timeline until retirement, and tolerance for risk. Each plan offers a wide range of investment choices, including: 1) stock funds; 2) bond funds; 3) real estate funds; 4) guaranteed investment contracts; and 5) money market funds. For help with maximizing your retirement savings and other financial goals, meet with a TIAA or Fidelity representative for a one-on-one, on-site investment counseling session.

Distributions and Loans

Hardship distributions and loans are not allowed to be made to participants from this plan.

For more information on Distributions and Withdrawals, visit the Frequently Asked Questions page.

Contact

IU Human Resources
Attn: IU Retirement Plan
400 East 7th Street, E165
Bloomington, Indiana 47405-3085

Phone: 812-856-1234

Fidelity
82 Devonshire Street 
Boston, MA 02109
www.netbenefits.com/indiana
Service: 800-343-0860
Appointment Scheduling: 800-642-7131
Overseas: 877-343-0860

TIAA
730 Third Avenue
New York, NY 10017
www.tiaa.org/indiana
Service: 800-842-2252
Appointment Scheduling: 800-732-8353
Overseas: www.tiaa.org/public/support/contact-us/directory

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