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On this page: Highlights | Accommodation | Contributions | Investments | Distributions and Withdrawals | Questions and Comments | Forms & Publications
To be acceptable to participate in the Plan, an agent allegation be:
The afterward individuals are banned from accommodating in the Plan:
An age 55 or beforehand actor is no best acceptable to accept an allocation of Plan contributions if the agent ceases to be a affiliate of an acceptable chic of employees.
In the accident an age 55 or beforehand actor becomes disqualified to accept an allocation of contributions beneath the Plan, contributions will stop actuality fabricated to the Plan with the employee’s aftermost paycheck attributable to application in an acceptable chic of employees.
Age 55 or beforehand participants, who are disqualified to accept a addition allocation beneath the Plan, accept the aforementioned rights as participants who are acceptable to accept a addition allocation beneath the Plan, except that no added contributions will be fabricated to the Plan on their behalf.
An age 54 or adolescent actor is no best acceptable to participate in the Plan if:
In the accident an age 54 or adolescent actor becomes disqualified to participate in the Plan, the individual’s absolute Plan anniversary will be forfeited.
Each pay period, Indiana University will accord to the Plan an bulk according to 2.4% of approaching abject bacon paid to the actor in the pay period. “Budgeted abject salary” does not accommodate any summer pay or added pay.
No contributions will be fabricated to the Plan on anniversary of a actor while the actor is on an contributed leave of absence.
Indiana University makes all contributions to the Plan. Advisers are not required, nor permitted, to accomplish any contributions to the Plan.
Federal law banned the absolute bulk of contributions that may be contributed to assertive Indiana University retirement affairs on anniversary of an agent for any agenda year. The absolute bulk contributed cannot beat the bottom of 100 percent of the employee’s advantage for the year or $49,000 in 2010. (The IRS adjusts the addition absolute periodically for increases in cost-of-living).
A actor allegation abolish application with Indiana University and amuse one of the afterward vested contest in adjustment to become 100% vested in his or her Plan account:
In the accident of a participant’s death, the actor will become 100% vested if he or she had at atomic 10 years of full-time anniversary with Indiana University.
A non-vested actor will cost his or her Plan anniversary aloft the beforehand of:
The Plan is a actor directed plan. This agency that anniversary actor is amenable for administering the advance of his or her Plan account. A actor may absolute the advance of his or her Plan anniversary amid any advance funds provided beneath the Plan. A actor may additionally alteration monies from one advance armamentarium to another.
A participant’s acclamation to advance his or her Plan account, to change the advance administration of approaching contributions, or to alteration amounts from one advance armamentarium to addition allegation be fabricated in accordance with the rules accustomed by Indiana University.
Indiana University has accustomed of the afterward advance companies beneath the Plan:
TIAA and Fidelity Investments do not about allegation participants the afterward types of fees: advanced end / sales bulk fees, anniversary aliment fees, cash-out or alteration fees. However, anniversary alone armamentarium will accept minimum administration fees as defined in the fund’s prospectus.
Each advance aggregation letters net advance acknowledgment figures, which reflect advance achievement afterwards authoritative costs are deducted.
Participants should acquaintance the advance aggregation for added advice about fees afore advance with that company.
A vested actor may alone abjure funds from his or her Plan anniversary aloft abortion of application with Indiana University. Distributions from IUSERP are accustomed for above advisers rehired into non-eligible positions if the rehired agent has at atomic a connected 30-day breach in anniversary from the date of the employee’s aftermost day of employment.
Hardship distributions are not accustomed to be fabricated to a actor from the Plan.
Loans are not accustomed to be fabricated to a actor from the Plan.
A actor may accept to:
Plan distributions are about accountable to a 20% binding federal assets tax denial rate. This binding denial will abate the bulk a actor absolutely receives aloft abandoning funds from the Plan. However, the bulk withheld will be accustomed adjoin any taxes the actor owes for the year back the actor files his or her anniversary tax return.
There are exceptions to the binding federal assets tax denial rule, including accepting the Plan administration as a life-time accomplishment acquittal or anon rolling over the Plan administration to an acceptable retirement plan (e.g., an IRA).
A absolute rollover of an acceptable rollover administration may be fabricated at the participant’s election. A absolute rollover is a acquittal of an acceptable rollover administration from the Plan anon to addition acceptable retirement plan, such as a 401(a) plan, 403(b) plan, 401(k) plan, authoritative 457(b) plan, or IRA. However, assertive types of distributions, such as life-time accomplishment payments, are not acceptable for absolute rollover treatment.
Indiana University may be appropriate by law to admit obligations a actor incurs as a aftereffect of a able calm relations adjustment (QDRO). A QDRO is a decree or adjustment issued by a cloister that obligates the actor to pay adolescent abutment or alimony, or contrarily allocates a allocation of the participant’s assets in the Plan to his or her spouse, above spouse, child, or added abased (collectively accepted as “alternate payees”).
A administration accustomed by a QDRO to an alternating beneficiary will be acceptable beneath the Plan, alike if the afflicted actor is not currently acceptable for a Plan distribution.
The IUSERP– Summary of Plan Provisions album contains a abundant description of the agreement and altitude of the Plan. A archetype of the album may be acquired from this website or by contacting the campus Human Resource office.
Please acquaintance University Human Resource Services with any questions or comments apropos the Plan at:
IU Human Resources Attn: IUSERP 400 East 7th Street, Poplars E165 Bloomington, Indiana 47405-3085 Phone: (812) 856-1234
Contact Fidelity: Service: 800-343-0860 Appointment Scheduling: 800-642-7131 Overseas: 877-343-0860
Contact TIAA: Service: 800-842-2776 Appointment Scheduling: 800-732-8353 Overseas: www.tiaa.org/public/support/contact-us/directory
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