1. What is the Rule Of 88?

The Rule Of 88 is an IPERS (Iowa Public Employees' Retirement System) eligibility rule that allows retirement when an employee's age plus years of service equals or exceeds 88. This is one of the retirement eligibility criteria used by IPERS.

2. How Does the Calculator Work?

The calculator uses the Rule Of 88 formula:

Where:

• \( Age \) — Employee's current age in years
• \( Service\ Years \) — Years of service with IPERS-covered employment

Explanation: If the sum of age and service years is 88 or greater, the employee meets the Rule Of 88 eligibility requirement for IPERS retirement.

3. Importance of Rule Of 88 Calculation

Details: Calculating Rule Of 88 eligibility helps IPERS members determine when they can retire with full benefits. This rule provides an alternative retirement path for long-serving employees who may not meet the standard age requirements.

4. Using the Calculator

Tips: Enter your current age in years and your total years of IPERS service. The calculator will determine if you meet the Rule Of 88 eligibility requirement.

5. Frequently Asked Questions (FAQ)

Q1: What is IPERS?
A: IPERS is the Iowa Public Employees' Retirement System, providing retirement benefits to employees of Iowa's state and local governments.

Q2: Is Rule Of 88 the only way to retire from IPERS?
A: No, IPERS offers multiple retirement eligibility options including age-based rules (age 55, 62, or 65 with varying service requirements) and the Rule Of 88.

Q3: How are partial years of service calculated?
A: Partial years of service are typically converted to decimal format (e.g., 6 months = 0.5 years) for calculation purposes.

Q4: Does Rule Of 88 provide full retirement benefits?
A: Yes, meeting the Rule Of 88 eligibility typically allows for full retirement benefits, though the benefit amount depends on your final average salary and years of service.

Q5: Can I use Rule Of 88 if I have service in multiple IPERS-covered positions?
A: Yes, all IPERS-covered service counts toward the Rule Of 88 calculation, regardless of how many different employers you worked for.