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Waterloo, City of

715 Mulberry Street
Waterloo, IA  50703
Phone: (319) 291-4303
Fax: (319) 291-4569

Plan details specific to City of Waterloo RIC 457/401a plans are shown below. Participation is through automatic payroll deductions in the amount you choose and may be changed or stopped at anytime. Access full 457/401a program information from the left menu. Enrollment is year round!
Eligibility   Contributions   Enrollment & Investments   Changes & Distributions
Permanent or probationary employees who are regularly scheduled and have completed 120 days of employment are eligible to participate.   457 employee contributions: Option to save pretax and post-tax Roth through payroll deductions:
  - minimum $25/month
  - maximum up to IRS annual limits

Catch-up  - Close to retirement, the 3-Year Catch-Up benefit allows qualified participants to contribute over the Age 50+ limit. To find out if you qualify, request a 3-Year Catch-Up Worksheet.


  Enrollment: Enrollment is completed through your plan's RIC investment providers Empower and Voya.(see Investments below). Choose your preferred method of enrollment and complete the process as intructed. 

Investments: RIC  providers offers a variety of investment options and provides help with enrollment, investment selection, and account reviews at no extra cost. A list of fund options by investment category is available in the RIC At-A-Glance PDF.

  Payroll deductions - You may request a change to your existing payroll deduction amount and tax treatment at any time by completing the City of Waterloo RIC Account Form PDF and forwarding it to your payroll office.

Account management: To manage investment selection, obtain account information, change personal or beneficiary information, access your account online or call your provider.

Distributions: While employed, distribution options are limited. Once separated from employment, contact your provider directly to request distributions.