IPERS
Iowa Public Employees’ Retirement System
Around 1 in 10 Iowans are IPERS members.
Unlike a 401k, IPERS is a defined-benefit pension and your monthly benefits are based on a formula instead of account accumulation.
Contribution rates for regular members are 6.29% of your gross income. Your employer will contribute an additional 9.44%.
Note: Public school teachers and staff are considered Regular members of IPERS so the focus will only be on these types of members here. If you fall under the Special Service groups (Sheriffs, Deputy Sheriffs, and other Protective Occupation groups) you will probably want to go to IPERS.org for more information.