Iowa IPERS Retirement Calculator Help
The calculator estimates a Regular member's IPERS benefit. Here's what each input does and why the July 2012 split changes your reduction.
Years of service and the June 30, 2012 split
Enter all your IPERS service, in quarters if you know them. Then enter how much of it was earned through June 30, 2012. That share matters only if you retire early and were vested on that date: its reduction is 3% a year to your nearest normal retirement date instead of 6% a year to 65.
Average salary
Your five highest years of covered wages. They don't need to be the last five or consecutive. If you were vested on June 30, 2012 and your best three years before then average more, IPERS uses that figure.
Age you leave IPERS work
If it's 55 or later you can start right away, unreduced at 65, 62 with 20 years or the Rule of 88, reduced otherwise. If it's before 55 and you're vested, the result shows the age your unreduced benefit can start and what an early start at 55 would pay.
Reading the result
The monthly figure is Option 2, IPERS's base form, which returns any unpaid contributions to your beneficiary. Other options pay slightly more or less. The calculator assumes no dividends.
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Frequently asked questions
Is the IPERS early reduction 3% a year?
Only for service earned through June 30, 2012, and only for members vested by then. Service from July 1, 2012 on is reduced 6% a year before age 65.
Does the Rule of 88 stop the 6% reduction?
Reaching the Rule of 88 or 62/20 means you're at normal retirement age, so no reduction applies. Before you reach one of them, the post-2012 part is measured from 65, not from your Rule of 88 date.
What's the most IPERS will pay?
65% of average salary, reached at 35 years. Service past 35 years doesn't raise the multiplier.
Why does my estimate differ from IPERS's?
IPERS applies a wage-spiking test, counts service by quarter and measures age to the month. Use the estimate in your My Account for the official figure.