Additional Benefits

Benefit
Faculty
Professional and Scientific (P&S)
 Merit
Pre / Postdoctoral Associates
Supplemental Voluntary Life Insurance Principal Financial Group N/A
Dependent Life Insurance Principal Financial Group N/A
Eyewear Discount Program Avesis Avesis
Long-Term Care Insurance Genworth Financial N/A
Voluntary Individual Disability Income InsurancePrincipal Financial GroupPrincipal Financial Group
Employee Assistance Program EAP EAP
Discount Programs Vendor Discounts Vendor Discounts

 

Retirement Incentive Option (RIO) Program

The RIO is a voluntary program. Eligible employees will need to meet a rule of 70, combining age and length of continuous service at the time of retirement. The minimum allowable age is 60 or older. The period of expressing interest is from August 3, 2020 through March 1, 2021. All applications are subject to approval. The program offers three options from which eligible employees may choose:

  • Two years of retirement contributions plus health and dental coverage;
  • Three years of retirement contributions; or
  • Three years of health and dental coverage.

Tuition Reimbursement

The Tuition Reimbursement Program (TRP) helps to defray the cost of tuition up to a maximum of four (4) college credits available for courses offered by Iowa State University (ISU). The program is available to all current ISU Merit and Professional and Scientific (P&S) staff members upon completion of one (1) year of continuous non-temporary employment prior to the time of course enrollment and if the employee is enrolled in courses that are part of a degree, or will benefit/enhance the staff member’s current position at ISU. The ISU staff member’s appointment must be at least twenty (20) hours per week (in a benefits-eligible position).


Phased Retirement

Faculty, Professional and Scientific (P&S) staff or Merit employees of the university who have attained the age of 57 with at least 15 consecutive years of service with the Board of Regents are eligible to request participation in the phased retirement program. 

An employee may reduce from full-time to no less than a half-time appointment either directly or via a stepped schedule. The maximum phasing period will be two years with full retirement required at the end of the specified phasing period. If a two-year phasing period is agreed upon an employee may not hold greater than a 65 percent appointment in the first year. For phasing periods of one year or less, or after the completion of the first year of a two-year phasing period, the appointment cannot exceed 50 percent.


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