Retiree Health

Retiree medical and dental insurance eligibility is based upon reaching age 55 and having completed ten years of continuous full-time employment. Retirees can remain on IWU health plans until age 65 by paying both the employee and employer premiums.

The University will make contributions to a defined contribution plan (similar to a health savings account) for full-time employees upon reaching age 45 or upon hire if already 45. The contribution will total $1,500 per year for a maximum of 20 years. The accumulated funds can be used to pay for insurance premiums and medical expenses after retiring from IWU. Contributions were suspended in April 2020 due to COVID-19.