Under federal law, there is no mandatory retirement age for staff employees. Indiana legislation controls these provisions. IU pays all contributions for the PERF retirement plan. Reduced PERF income is available as early as age 50 with 15 years of PERF service. The following table lists the age and service required to begin retirement income without reductions.
Participants can begin their income at any age after termination of employment.
IU pays all contributions for the IU Retirement Plan. IU Retiree Status Staff who qualify for IU Retiree Status are eligible for reduced basic life insurance. Also, they have the option to continue health care coverage and to enjoy the benefits of the fee courtesy. To qualify for Retiree status, staff must meet an age and service requirement that ranges from age 55 with 30 years of service to age 65 with 10 years of service. A support staff member who is promoted or reclassified to a PA position must switch to the plan for the new position.