FY2008 Annual Summary July 1, 2007 - June 30, 2008

(2008) FY2008 Annual Summary July 1, 2007 - June 30, 2008. Iowa Public Employee Retirement System

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Abstract

It’s really quite simple. IPERS is a sure thing. IPERS benefits carry a lifetime guarantee. A bad economy and declining stock market do not decrease your benefits. Instead, your benefit amount is determined by a pre-established formula that replaces a percentage of your pre-retirement wages. How close your benefits get to the maximum of the IPERS plan—replacing 65 percent of pre-retirement wages or 72 percent for public safety personnel—is mostly up to you. Current employees don’t have to worry about where to invest or what to do when there is a slump in the stock market. Retirees don’t have to worry that a down market will reduce their monthly payments, and they never have to worry about outliving their IPERS benefits. Disability payments and death benefits act as a safety net for members and their families.

Item Type: Departmental Report
Keywords: IPERS, Benefits, Annual Summary
Subjects: State government > State finance
State government > State employees
State government
ID Code: 12942
Deposited By: Margaret Barr
Deposited On: 01 May 2012 18:43
Last Modified: 01 May 2012 18:43
URI: http://publications.iowa.gov/id/eprint/12942

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