IPS understands that benefits stretch beyond compensation and health insurance; it’s about total rewards! As part of teamIPS, you have the opportunity to participate in an assortment of health benefit options that will fit various needs and budgets. Additionally, IPS invests in you by contributing to the Indiana State Teachers’ Retirement Fund (TRF) on your behalf!
- Benefits add approximately 38% compensation to your salary (based on a salary of $40,000)
- IPS employees pay only $0.78 annually for vision, dental, and life insurance combined!
- IPS contributes between 75-86% (depending on the chosen plan) of the cost of employee-only medical insurance
- Health Savings Plan options
- IPS pays 10.5% of teachers’ salary into the Indiana State Teachers’ Retirement Fund (TRF), covering both the employer and the employee contribution.
- IPS offers various 403(b) tax deferred annuity plans, through several approved providers, with an employer match.
Loan Forgiveness and Loan Cancellation
Did you know that your federal student loans may be forgiven or cancelled for your service as a teacher?
If you have any Direct subsidized or unsubsidized loans or Federal Stafford subsidized or unsubsidized loans, you may be eligible for forgiveness of up to $17,500 of your student loans when you teach full-time for five complete and consecutive years in schools that serve low-income families*.
If you have a Federal Perkins loan, you may be eligible for deferment of your loan or even cancellation of up to 100% of your loan when you teach full-time for a full academic year or its equivalent at a low-income* school or for teaching special education, math, science, foreign languages, bilingual education or any other field of expertise with a shortage of qualified teachers in the state.
*To find out if you qualify for federal loan forgiveness or cancellation, click HERE.