| IAP 2004/2005 Annual Statements |
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Corrected IAP annual statements for 2004 and 2005 (showing adjusted total contributions and earnings for each year) will be mailed to members at their address on file at PERS by the end of November 2006. A sample 2004/2005 IAP annual statement is posted. If you move your mouse to a topic (i.e., beginning balance, earnings rate, etc.) on the sample statement, a pop-up box will appear that describes the item.
PERS revised IAP account administration in 2006.
The 2004/2005 IAP annual statement will show contributions (reported by your employer to PERS) and earnings through December 31, 2005. Earnings for 2004 and 2005 have been credited based on IAP fund investment results and the costs associated with the IAP. The IAP earnings crediting rate for 2004 is 12.77 percent and is 12.80 percent for 2005.
The statement will not show contributions for 2006. You can view 2006 contributions on the IAP website at:iap.csplans.com. The IAP website will be active when annual statements are mailed. You can also access your account balance by telephone at 1-877-YOUR-IAP after annual statements are mailed.
Personal identification numbers (PINs) were sent to IAP participants in May 2005. If you have misplaced your PIN, use the “Forgot Your PIN” function on the IAP website and CitiStreet, our third-party administrator for the IAP, will mail it to you within three business days.
The account balance shown on the IAP website is your December 31, 2005 balance with 2006 contributions added. IAP annual earnings for 2006 will be credited in March 2007; earnings for 2007 and beyond will be credited in the same manner.
Your 6% PERS member contribution has been directed into your IAP account as of January 1, 2004. The IAP benefit is in addition to any other PERS retirement program benefit for which you are entitled (i.e., Tier One, Tier Two, or OPSRP).
Tier One/Tier Two and OPSRP annual statements for 2005 were mailed to members earlier this year.
Read IAP annual statement frequently asked questions (FAQs).
Important things to remember:
- You should receive your 2004/2005 IAP annual statement by the end of November 2006.
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The IAP annual statement shows contributions (reported by your employer to PERS) and earnings through December 31, 2005.
- The IAP annual statement does not show your contributions for 2006.
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The account balance shown on the IAP website is your December 31, 2005 balance with 2006 contributions added.
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Your 6% PERS contribution has been directed into your IAP account as of January 1, 2004. The IAP benefit is in addition to any other PERS retirement program benefit for which you are entitled (i.e., Tier One, Tier Two, or OPSRP).
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Tier One/Tier Two and OPSRP 2005 annual statements were mailed to members earlier this year.
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