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Coon Rapids Municipal Utilities

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Coon Rapids Municipal Utilities
123 3rd Avenue South
Coon Rapids, IA 50058
Phone: (712) 999-2225

 

Plan details specific to the Clay County 457/401a plans are shown below.  Access additional program information from the left menu.Enrollment is year round!  Take advantage of this great employee benefit today by contacting Voya!

Eligibility   Contributions   Enrollment & Investments   Changes & Distributions
All employees are eligible to participate. Review the RIC Plan Summary for more plan details.

 

 

  457 employee contributions: Option to save pretax through payroll deductions:

  - minimum $25/month

  - maximum up to IRS annual limits*

401a match plan: Employer matches up to $600 of employee contributions annually. There are no vesting requirements.

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 always open. Review the different enrollment options available through your plan's RIC provider Voya advisor Matt Ramaekers 712-792-6588.

Investments: Voya 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 CRMU RIC Account Form PDF and forwarding it to your human resources department.

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.