Welcome Public Sector Employees!
Your employer partnered with the Iowa Retirement Investors' Club (RIC) to provide investment options and services in your 457/401a savings benefit.
Your contributions to the RIC 457 plan are designed to help supplement pension and social security benefits at retirement. Contributions are made through automatic payroll deductions. Pretax contributions grow tax-deferred and post-tax Roth* contributions grow tax-free for qualified distributions. The 401a plan allows you to roll funds into RIC from eligible former employer plans and IRAs.
Enroll today and give yourself more reasons to look forward to retirement!
*Check your employer plan details to see if the 457 Roth option is available in your plan (457 Roth Summary).
Non-State Public Employers:
The Retirement Investors' Club (RIC) is a voluntary retirement savings program that allows you (if eligible) to set aside a portion of your salary for use as income in retirement along with your pension and Social Security benefits.
Through automatic payroll deductions, you choose how much to save per paycheck (up to the IRS annual limits). Your deductions are then invested in the selection of RIC investments you choose. There are no vesting requirements for either account. Review the RIC At-A-Glance from your employer's page for a program summary and list of available investments in your plan.
How your RIC accounts work
As an RIC participant, you have two accounts:
- 457 Account- Deductions from your paycheck, in the amount you choose, are deposited into your selection of RIC investments in a 457 employee contribution account. You may choose to have deductions taken from your paycheck before state and federal income taxes (pretax) or, if allowed by your employer, after taxes have been withheld with the post-tax Roth option (see if the Roth option is available on your employers plan details webpage).
- 401a Account- You may roll in assets from eligible outside retirement plans such as 401k, 403b, 401a, IRA. If your employer matches a portion of your contributions, they are deposited into your 401(a) account.
Eligibility
Eligibility requirements (if any) are shown on your employers plan details webpage.