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USI campus to reopen, classes resume, January 28

Change is never easy, and we know this is a challenging time as you navigate recent announcements affecting programs and operations at Oakland City University. We want you to know that your educational journey doesn’t have to pause.

At the University of Southern Indiana, we are fully committed to helping you transition seamlessly so you can stay on track with your education journey. We’ve designed this dedicated page specifically for you to explore our programs, access resources, learn about credit transfers and continue your education with minimal interruption.

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Retirement

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Defined Contribution Plan (TIAA)
Eligible support staff members hired on July 1, 2014 and after may participate after one year of employment. If you have been a member of a University-sponsored retirement plan or TIAA for at least one year, the waiting period may be waived (documentation within 60 days of hire date required). The University contributes 7% of annual salary to this plan.

Indiana Public Retirement System (INPRS)
Support staff members in eligible positions hired on or before June 30, 2014 participate in the Indiana Public Retirement System. Certain rehires may be defaulted in to this plan. The University contributes 11.2% of the employee's gross earnings towards a pension and 3% towards an annuity savings account, for a total contribution of 14.2% into the Indiana Public Retirement System.

Access the INPRS website for detailed information regarding benefits, beneficiaries, vesting, newsletters, account management, benefit calculator and forms. The Perf at a Glance brochure is also a great resource.

Defined Contribution Plan (TIAA) 
Eligible faculty and administrators may participate after one year of employment. If you have been a member of a University-sponsored retirement plan or TIAA for at least one year, the waiting period may be waived (documentation within 60 days of hire date required). The University contributes 11% of annual appointment salary to this plan.

Supplemental Retirement Plan 
All full-time and part-time employees are eligible to enroll in this plan except for student workers and non-resident aliens. This plan is used to defer your income on a pre-tax or post tax (Roth) basis for retirement savings purposes. To enroll, complete the Voluntary Salary Deferral Form and submit it to Human Resources. You will then need to set up an account online with TIAA. There is no waiting period. 

Remember to keep your beneficiaries up to date at TIAA. 

A system administered by the federal government through the Social Security Administration providing old age, survivor's disability and retirement benefits. The cost is shared by the University and the employee. Effective January 1, 2024: 6.2% of salary up to $168,600 for old age, survivor's, and disability insurance, and 1.45% of all covered wages for Medicare hospital insurance.

Employees are strongly encouraged to request a Social Security Personal Earnings and Benefit Estimate Statement (PEBES). The PEBES is a statement of a person's lifetime earnings and an estimate of future benefits. There is no cost to secure this statement and you do not need to be approaching retirement age; any individual who has paid any social security taxes during his/her working career may request a statement at any time. 

Change your Contribution
Enroll in TIAA

TIAA holds monthly webinars through its interactive site called the Virtual Environment: www.tiaa.org/ve. This innovative resource offers users 24/7 access to a wide range of articles, on-demand seminars, and live monthly seminars on a variety of essential financial topics.

September Webinars

October Webinars

Fall/Winter Webinars

To schedule an appointment with a TIAA representative, call 800-732-8353 or visit the website.

PERF is currently conducting phone appointments and in-person appointments at select locations.  These can be scheduled online at:  https://www.in.gov/inprs/retirement-education/workshops-and-counseling/ or you may call the Member Advocate Number at 844-GO-INPRS (844-464-6777) to set up an appointment.  You may tell them that you want to set up an 1 to 1 Retirement Counseling appointment with Erin Caskey in the Southwest Region.

If you are wanting to submit your Retirement Application, you will need the following information.

  •   For Survivor or Beneficiaries: Name, address, phone number, social security number, and birth date (email optional)
  •   Federal tax withholding percentage
  •   For Rollover: name of organization the rollover check needs to be made to
  •   Bank Information: Routing number and account number (or bring a check)

By registering, members will receive their own retirement benefit estimate in the mail.  It’s very helpful to have this estimate with available for the session. 

INPRS Representative:

Erin Caskey

Each Spring the University hosts Retirement Workshops. The University invites the Social Security Administration, State Health Insurance Assistance Program (SHIP), TIAA, PERF and more to give workshops to help educate employees about their retirement options. As the event nears, check out the webpage for the event.  

Visit www.tiaa.org/usi and choose enroll now and then click on the plan in which you want to enroll and click begin enrollment, then follow the prompts. You will need the access code listed below. 

Employer Contributions

  • University of Southern Indiana Defined Contribution Retirement Plan for Faculty and Administrators 
    • Access Code is 150771
  • University of Southern Indiana Defined Contribution Retirement Plan for Support Staff 
    • Access Code is 406555

Employee Contributions:

  • University of Southern Indiana Tax-Deferred Annuity 403(b) Plan for all employees
    • Access Code is 150772
  • University of Southern Indiana Deferred Compensation 457(b) Plan for all employees
    • Access Code is 150774

The Internal Revenue Service dollar limitations for pension plans and other retirement-related items are shown below.

Retirement Plans 2026 2025 2024 2023 2022 2021 2020 2019 2018
Elective Deferrals 
401(k)/403(b) - 402(g)(1)		 24,500 23,500 23,000 22,500 20,500 19,500 19,500 19,000 18,500
Catch-up Contributions
414(v)(2)(B)(i)		 8,000 7,500 7,500 7,500 6,500 6,500 6,500 6,000 6,000
457 Elective Deferrals
457(e)(15)		 24,500 23,500 23,000 22,500 20,500 19,500 19,500 19,000 18,500
Defined Contribution Limits
415(c)(1)(A)		 72,000 70,000 69,000 66,000 61,000 58,000 57,000 56,000 55,000
Social Security 
Taxable Wage Base		 184,500 176,100 168,600 160,200 147,000 142,800 137,700 132,900 128,700
Compensation Limit for Contributions 360,000 350,000 345,000 330,000 305,000 290,000 285,000 280,000 275,000

Connect With
Human Resources

(812) 464-1815