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Enrollment

Enrollment is always open!
RIC core provider enrollment options are shown below. The provider you choose has everything you need to open your accounts and begin salary reductions. Each provider's enrollment options are shown below. At no additional cost, advisors can explain the investments and help you complete the enrollment process.

Education-Related Employees
Core Provider 403b At-A-Glance
FAQ

Enrollment Options      

Online Enroll online   (Not available)   Enroll online (403b)   Enroll online (403b) 
In person (request meeting)  Email Horace Mann
Area agent list
  Email Mass Mutual 
Area agent list
  Email VALIC 
Area agent list
  Email Voya 
Area agent list
Over the phone 877-602-1870   (Not available)   800-945-6763   800-555-1970
Print forms Print forms   Print forms   Print forms (403b)   Forms available on request
Request information 877-602-1870   800-743-5274   800-945-6763   800-555-1970
For a summary of the provider phone numbers and a list of investment options, view the RIC Core Provider 403b At-A-Glance.

 
 

 

 

 

 

Frequently asked questions

Which provider should I choose?
Can someone help me enroll?
How much should I save?
Salary Reductions
How much will I earn?
What if I change my mind?

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Investment providers

Core providers

Core providers are Horace Mann, MassMutual, VALIC, and Voya. These providers successfully proposed investment products for 2016 and beyond meeting requirements of a public competitive RFP (Request for Proposal), including RIC’s Investment Policy. You may view the Core Provider 403b At-A-Glance for a list of funds and the Core Provider Product Fees for additional information. RIC core provider information including website links, quarterly fund performance, advisor listings, fixed rates, etc. are easily accessed from the Providers and Investments webpage. There are no restrictions or fees for moving assets between core providers.

RIC core providers offer diversified investments, online account access, and retirement planning tools. RIC core providers have knowledgeable investment experts to help you (at no additional cost) evaluate the investment options and determine an investment mix best suited for your savings goals and tolerance for risk. There are no annual contract fees, M&E fees, or penalties for asset transfers between core providers or investments.

Optional providers (not available in all employer plans)

Optional providers are Annuity Investors LIC, EFS Advisors, AXA Equitable, Lincoln Investment, and Security Benefit. These providers successfully submitted investment products for 2016 and beyond that meet mandatory plan requirements through the ITQ process.

Optional provider product disclosure:  RIC does not monitor optional provider investment offerings or negotiate optional provider fees, penalties, or restrictions. It is your employer's option to allow optional provider products in your plan. If you are interested in participating with an optional provider, ask your employer if the optional providers are available in your plan. Optional provider product terms, fees, and restrictions are available from the provider upon request. See Optional Provider 403b RIC At-A-Glance for a summary of the program and product information.

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Advisor services

A provider representative can be involved in your enrollment and investment selection process to the degree that you like. If you want help completing the applications and selecting your investments, the provider you choose has qualified representatives who will do just that. There is no additional cost associated with this service. Advisor information for each provider is available from the Providers and Investments webpage.

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Required paperwork

The RIC investment provider you choose will have their own forms that must be completed in order to select investment options and begin deductions from your paycheck. Provider representatives are available to help you consider the investments and complete the forms if you wish. The RIC provider you choose will request that you complete:

  • Their 403b application (to open your employee contribution account)
  • The RIC Salary Reduction form (to request deductions from payroll)
  • A rollover form (if you wish to roll-in other retirement account assets)

After you have completed all forms, your provider will tell you where and how the forms will be processed.

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Savings amount

Contributions to RIC are made through salary reduction up to the IRS maximum annual contribution limits. RIC investment providers have tools to help you determine how much you should save in order to generate the level of income you desire at retirement.

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Investment options (core providers)

The RIC core investment providers offer a variety of investment options to meet both conservative and aggressive investors' needs. For a list of funds, review the RIC 403b Core Provider At-A-Glance. Funds have no sales charges or transfer restrictions (short-term trading restrictions may apply).

Planning tools and/or provider representatives can help you determine what type of investor you are and which investments are appropriate for your investment style. If you want help with your investment selection, see Advisor Services.

*Please note: investment returns are not guaranteed by the State of Iowa or the US Government and are not FDIC insured. Fixed rates are insured by the issuing investment provider.

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Salary reductions

Contributions to RIC are made through salary reductions. In most cases, there is no minimum contribution requirement (view your employer's plan elections). The maximum amount of salary you may defer annually is limited by the IRS maximum contribution limits. Each of the providers have tools to help you determine how much you should save in order to generate the level of income you desire at retirement.

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Investment Earnings

Your potential for earnings largely depends on what type of investor you are and what mix of investments you choose. You have the choice of a variety of fixed and variable rate investments with opportunity for a wide range of potential earnings .

Fixed rate accounts guarantee a fixed rate of interest. Mutual fund offerings have variable rates of return based on the performance of the underlying securities. The RIC providers have tools to help you determine your investment style based on your savings goals, tolerance for risk, and timeframe for investment. Historical performance of investments may be accessed from the providers and investments webpage.

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Changes

You may choose to stop or change the amount of your deductions, your investment mix/provider, beneficiary designation, etc. at any time (see Change Options).