Indiana University
Benefits Change Connection
Retirees
IUSERP
Non-vested participants:
If a participant terminates employment before age 55, no action is necessary. The participant's account will be automatically forfeited.
Vested participants:
An eligible participant, who terminates employment with Indiana University after attaining age 55 while in active employee status, will become 100 percent vested in his or her IUSERP account.
Upon termination of employment, an eligible participant must take a complete distribution of his or her IUSERP account. Distribution may be done by:
- Withdrawing all or a portion of IUSERP account accumulations (subject to income taxes); or
- Rolling over all or a portion of IUSERP account accumulations to an eligible retirement plan e.g., an IRA.
Vested participants' responsibilities upon termination of employment:
- Notify University Human Resource Services (UHRS) of his or her intended distribution date at least 30 days in advance.
- Complete and return an IUSERP Distribution Form to UHRS. (UHRS will provide the form after receiving notice from the participant. This will be at least 30 days before the intended distribution date.)
If no form is received, UHRS will automatically roll over account
accumulations to an IRA within 90 days after the last day of the plan year
in which the participant terminates employment.
