Further information may be obtained from Human Resource Services. Such an employee is not eligible for any benefits resulting from state contributions to the retirement fund. An employee leaving the university after five years of service and before age 65 may withdraw his or her contributions with interest or may leave the funds intact and begin to receive benefits on retirement at age 55 or older. Those leav ing the university after five years of service and after attaining age 65 are eligible for service retirement. Employee contributions are made through payroll deduction.
Participation is suspended while an employee is on leave without pay.
Further information may be obtained from Human Resource Services. An employee who leaves the university may retain both employee and employer contributions in his or her IORP retirement account until beginning to draw retirement benefits according to rules of the plan. IORP accounts are portable between UI and other higher education institutions with the same defined contribution benefit plans. An employee who leaves the University may withdraw his or her contributions plus any interest that has been credited. Regular Service Retirement.