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4.17                   TIAA-CREF Retirement Program  

          A.     Eligibility  

        1.         Each Regent institution and the Board Office will set its own eligibility requirements for participation in its basic retirement program with TIAA-CREF or in a plan substituted in accordance with each institutional policy.  

        2.         Permanent employees of Iowa School for the Deaf and Iowa Braille and Sight Saving School will have the option of selecting between IPERS and TIAA-CREF for their retirement program.  The rate of contribution will be at the current IPERS rate.  

          B.    Options for Former Employees  

        1.         A former employee or retiree may convert his or her TIAA-CREF account to any financial instrument he or she deems appropriate.