Secure your IPERS retirement with a comprehensive plan that protects your benefits and maximizes your income for life.
Whether you're a long-time educator, public university employee, city, county, or state worker, there is a good chance that you will be retiring with IPERS. Your IPERS retirement benefit is a key part of the puzzle—but it’s only one piece of a well-built retirement plan.
At Ignite Financial, we’ve helped dozens of IPERS-covered employees confidently transition into retirement—clarifying the moving parts of your pension, Social Security, healthcare, investments, insurance, and Estate plan into a strategy that lasts. We’re flat fee fee-only financial planners in Iowa, and our only job is to help you make the most of your benefits and savings.
Most people just choose Option 4 or 6 without fully looking at Option 3 and what other opportunities are available if needed to protect the spouse.
Your monthly IPERS benefit is based on your years of service, your highest average salary (typically over five years), and a multiplier. But just knowing your estimated benefit isn’t enough.
You need to choose a payout option that affects how much you receive—and what your spouse or beneficiaries will receive:
We help clients assess:
A couple—let’s call them Sally and Jim—came to us unsure of which IPERS payout option to choose. Sally worked in public education and had a substantial IPERS retirement benefit, while Jim had Social Security and they shared about $1 million in other retirement assets.
Their main concern? Protecting the surviving spouse if Sally passed away first.
We walked through all six IPERS payout options and ran multiple retirement income scenarios. After careful analysis, they chose Option 3: Single Life Annuity, which gave Sally the highest monthly benefit. The catch? If Sally were to pass first, her pension would end, and Jim would receive nothing from IPERS.
Understandably, that felt risky.
So, we helped them explore a term life insurance strategy to protect Jim. Here’s how it played out:
Here’s the difference: Life insurance can be canceled if no longer needed. But your IPERS decision is irrevocable. You only get one shot.
For many IPERS retirees, “self-insuring” with term life insurance can provide more flexibility and higher total income than selecting a reduced survivor benefit.
Before locking in your IPERS payout option, explore whether term life insurance might offer more value than a lower monthly pension. The numbers might surprise you.
Term life insurance isn’t right for everyone—but it’s worth exploring. For many IPERS retirees we’ve helped, it’s the smarter option. And for others, it doesn’t make sense. The key is running the numbers and understanding your unique situation.
Even with a strong pension, many IPERS employees and/or there spouses have accumulated meaningful assets in a 403(b), 457, or 401(k). These can help:
Note: Starting July 1, 2024, some Sheriffs/Deputy Sheriffs may qualify for a 1.5% COLA if they meet age, service, and retirement eligibility rules. Disability retirees are not eligible.
Key questions we address:
A comprehensive strategy brings all your accounts together—not just your pension.
IPERS and Social Security are two very different systems—but they often work in tandem.
We help clients:
In some cases, it makes sense to delay Social Security while living off your pension and retirement savings. In others, claiming earlier frees up your portfolio.
If you retire before 65, you’ll need to bridge the healthcare gap until Medicare kicks in. We help IPERS participants evaluate:
A solid healthcare plan can prevent major stress—or worse, a financial setback.
IPERS benefits are taxable income at the federal level unlike at the state level. Add in Social Security and withdrawals from pre-tax accounts, and suddenly you may be paying more taxes than expected. One of many reasons why its critical to have an IPERS tax strategy.
As flat fee advisors, we help you:
IPERS benefits are federally taxable (though not taxed in Iowa). Add in Social Security and withdrawals from pre-tax accounts, and your tax burden may be higher than you expect. That’s why having a smart IPERS tax strategy is essential.
We designed a Roth conversion strategy for Iowa retirees, shifting pre-tax dollars into a Roth IRA over several years before RMDs hit. That helped her:
Another couple—longtime educators—wanted to give to causes they care about, but weren’t sure of the best way in retirement.
We introduced them to Qualified Charitable Distributions (QCDs): a strategy that lets you donate directly from your IRA (starting at age 70½), satisfying part or all of your RMD without increasing your taxable income.
They gave $10,000 to their church and a local food bank—and reduced their tax bill by the same amount.
Retirement doesn’t mean tax planning is done—it means it’s more important than ever. Smart strategies like Roth conversions, QCDs, and income “smoothing” can help you:
💡 Pro Tip: Don’t let RMDs or surprise Medicare premiums derail your retirement tax plan.
Unlike commission-based advisors, we don’t sell products. We charge a transparent, flat fee and act as your fiduciary—always putting your best interests first.
That means:
Whether you're looking for a flat fee retirement advisor in Iowa or simply want retirement planning without commissions, our approach puts you first. Many of our clients tell us they were searching for the best financial advisor for IPERS retirees—someone who understands public pensions and retirement income planning. That’s exactly what we do.
You’ve worked hard for your benefits. Now it’s time to make sure they work hard for you. Whether you’re five years out or already submitted your retirement paperwork, it’s never too late to build a better plan.
📅 Schedule your free retirement consultation
🌐 Learn more at igniteplanning.com
Let’s help you retire with confidence, clarity, and a plan built for your life.