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Retirement Information: Planning Your Retirement from IUP

Important: There are different eligibility criteria for the full (non-reduced) retirement benefit (SERS and PSERS members), for the majority paid health and prescription drug coverage after retirement (the plan includes coverage for both Medicare eligible and non-Medicare eligible retirees and their dependents), and for receiving a payout of unused sick leave.

If you are considering retirement, you are strongly encouraged to contact the Office of Human Resources at (724) 357-2431 to verify your eligibility for these benefits before you submit your letter of retirement and/or before you sign your retirement paperwork with your retirement counselor.

If you are considering retirement, the first step is to review the appropriate Retirement Planning Guide:

To retire, you must first contact your retirement plan (SERS, PSERS, or ARP) and arrange for your retirement annuity. See a schedule of on-campus retirement counseling dates: Retirement Counseling Schedule

Retirement information is also available from the following websites:

Retirement

State Employees Retirement System (SERS):

  • Normal Retirement: Age sixty with three years of service, or any age with thirty-five years of service.
  • Early Retirement: Under age sixty with five or more years of service. Benefit is actuarially reduced based on age or service.

SERS Guide for Retiring Members

Public School Employees Retirement System (PSERS):

  • Normal Retirement: Age sixty-two with one year of service, age sixty with thirty years of service, or any age with thirty-five years of service.
  • Early Retirement: Under age sixty-two with five or more years of service. Benefit is actuarially reduced based upon age and service. Age fifty-five with twenty-five years of service with a 3 percent reduction applied for each year under normal retirement. Reduction not greater than 15 percent of annual maximum.

PSERS Guide for Retiring Members

Alternative Retirement Plan (ARP) (Fidelity Investments, ING, TIAA-CREF, VALIC):

  • Normal Retirement: Any age; however, normal retirement is age sixty. Annuity is based upon employee/employer accumulations (contributions plus interest and earnings).
  • Early Retirement: Any age. Annuity is based on employee/employer accumulations (contributions plus interest and earnings).

TIAA-CREF Lifetime Annuity Options

For further information, please contact the Benefits Office.

  • Human Resources Office
  • Sutton Hall, Room G8
    1011 South Drive
    Indiana, PA 15705
  • Phone: 724-357-2431
  • Fax: 724-357-2685
  • Office Hours
  • Monday through Friday
  • 8:00 a.m. – 4:30 p.m.