Investment Types

Each of the providers offer one or more of the investment product types* shown below. Providers allow participants to change their investment selection at anytime. Changes to your investment selection may be made online or by calling your provider. For a list of all funds offered by the RIC investment providers see the RIC AT-A-Glance.

*Please note: fixed rates and variable rate fund returns are not guaranteed by the State of Iowa or the US Government and are not FDIC insured. Guaranteed rates are insured by the issuing investment provider. These rates are updated on our website quarterly. One or more of the active providers may change rates more frequently than quarterly. To obtain the most current guaranteed rate information, please contact the active provider directly.

 

Mutual Funds & Sub Accounts

A pool of stocks, bonds, cash, or other securities professionally managed to meet a common objective is referred to as a variable rate fund, mutual fund or sub account (in a variable annuitiy). Your contributions purchase shares of a portfolio with many other investors; shares are purchased at a specific price per share; the price fluctuates in the market. These funds are available in a variety of investment categories including, but not limited to:

  • Money Market funds
  • Bond funds
  • Balanced funds
  • Large cap stock funds
  • Mid cap stock funds
  • Small cap stock funds
  • Internationa/Globall funds
  • Life stage/target date/asset allocation funds
  • Socially conscious funds
  • Real estate funds

Mutual fund and variable rate fund returns are not guaranteed by the State of Iowa or the US Government and are not FDIC insured. To view fund selections and historical performance information, visit the provider page.

 

Fixed Rate Account (see current rates)

A fixed rate account is an investment option that provides guarantee of principal and rates of return. Principal and interest are guaranteed by the provider. For the most accurate rate information contact the providers directly.

Fixed account guarantees

If your provider fails, the maximum amount of protection provided by Iowa Life & Health Insurance Guaranty Association for fixed accounts that are guaranteed by general assets of the insurance company is $250,000. This is the case for fixed accounts offered by AIG, Horace Mann, Empower (formerly MassMutual), and Voya.

With regards to funds held in an insolvent insurance company’s separate account, loss of those funds would not be covered by the Guaranty Association. It should be recognized that funds in the insolvent insurance company's separate account are not subject to the claims of the insolvent insurer’s creditors, and therefore it is anticipated the values in that account would not be affected by the insolvency of the insurer. A separate account may increase and decrease in value because of the performance of an external reference or product, but it is not affected by the solvency of the insurer’s general account. This is the case for separate accounts offered by Security Benefit.

 

 

Self-Directed Brokerage Account

The self-directed brokerage account investment option allows you to transfer a specified amount of your 457/401(a) investment dollars to an outside broker for investment in a full array of mutual funds and individual securities. Various fees and minimum deposit amounts apply to each self-directed brokerage account.  See SDBA chart.