IU Retirement and Savings Plan
The IU Retirement & Savings Plan is a section 401(a) defined contribution retirement plan. You are automatically enrolled in this plan if you were hired on or after July 1, 2013 as a:
- Non-exempt staff position (excluding PAO & PAU) at 50% or more full-time equivalent (FTE); or
- Part-time with retirement position.
Indiana University contributes 9% of your base wages (excluding supplemental pay) for each regular pay period. This plan is fully funded by IU—employee contributions are not required or allowed.
This plan has a three-year cliff vesting requirement, meaning that you are fully vested in the plan after three years of IU employment.
If you were hired prior to July 1, 2013, see PERF.