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Grimes, City of

101 NE Harvey Street
Grimes, IA  50111
Phone: (515) 986-3036 
Fax: (515) 986-3846
 

Beginning February 1, 2020! Plan details specific to the City of Grimes 457/401a plans are shown below. Access additional program information from the left menu. Take advantage of this great employee benefit today!

Eligibility   Contributions   Enrollment & Investments   Changes & Distributions
Permanent status employees working 20+ hours/week are eligible to participate.

Participants are fully vested from day one.

  457 employee contributions: Option to save pretax and post-tax Roth through payroll deductions:
  - minimum $25/month
  - maximum up to IRS annual limits*

Roll-ins: At any time, you may roll in assets from an eligible outside retirement plan such as a 401k, 403b, 401a, and non-Roth IRA to take advantage of the RIC benefits. Your RIC provider will assist you with this. Assets rolled into RIC are available for distribution without investment restrictions or penalties.

 

  Enrollment: Enrollment is open initially until February 14, 2020 and annually on December 15th and is completed through a RIC investment provider. Choose your preferred method of enrollment and complete the process as intructed. View enrollment options available through your plan's RIC investment providers.  

Investments: RIC providers offer a variety of investment options at little to no cost and provide assistance with enrollment, investment selection, and account reviews at no extra cost. View RIC provider & investment information. For a list of available fund options review the RIC At-A-Glance PDF.

 

  Payroll deductions - You may request a change to your existing payroll deduction amount and taxation each December 15th by completing the City of Grimes 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.

Provider transfers: To transfer assets between RIC providers, establish an account with the receiving provider and complete the RIC Account Form. There are no restrictions or fees for this type of transfer.