Defined and Deferred Contribution Plans
Luther College is a member of the Iowa Independent Higher Education Research Foundation (IIHERF) and the Iowa Association of Independent Colleges and Universities (IAICU), Multiple Employer Plan (MEP). TIAA is the recordkeeper and custodian for the MEP plan. You can review your investment accounts using the TIAA/Luther College microsite .
Educational services are available at no additional cost through Millennium Advisory Services, Inc. If you meet the eligibility requirements, the College will contribute an amount equal to 5% of an employee’s base salary as long as you contribute at least 3%. You may choose either pre-tax or after-tax (Roth) options for your employee contributions. To make changes to your contributions:
- Complete the IAICU Multiple Employer Plan salary Deferral Agreement found on the HR website
- Submit the completed form to Human Resources, Main 25
- The new or revised payroll deduction will be implemented as soon as administratively possible based on the next available payroll date