Enrollment options are shown below. The 403b provider you choose has everything you need to open your accounts and begin salary reductions. At no additional cost, advisors can explain the investments and help you complete the enrollment process. See frequently asked questions below. For a summary of the provider phone numbers and a list of investment options, view the RIC 403b At-A-Glance.
The providers below successfully submitted investment products* that meet mandatory plan requirements through the Invitation to Qualify (ITQ) process. To help you ask questions, see the Provider Interview Sample. See the RIC 403b At-A-Glance for a summary of the program and product information.
*Product disclosure: RIC does not monitor these provider investment offerings or negotiate fees. Product information is available from the provider upon request. These providers successfully submitted investment products* that meet mandatory plan requirements through the Invitation to Qualify (ITQ) process. See theRIC 403b At-A-Glance for a summary of the program and product information.
Frequently Asked Questions (FAQs)
List items for RIC 403b Enrollment FAQs
Advisors can help
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. Advisor information is available from the Providers and Investments webpage or by contacting the provider directly.
Savings amount
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. If you employer offers a match contribution, consider the benefit of contributing an amount that maximizes that benefit.
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.
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. Review your investments annually to determine appropriateness for your savings goals.
Fixed rate accounts guarantee a fixed rate of interest. Mutual fund offerings have variable rates of return based on the performance of the funds in the market. 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 for some of the RIC providers may be accessed from the providers and investments webpage; for others, you may contact the providers directly.
Investment options*
The RIC investment providers offer a variety of investment options. For a summary of investment options, review the RIC 403b At-A-Glance. Funds may have sales charges and transfer/distribution penalties and restrictions (short-term trading restrictions may apply). Be sure to ask what fees and restriction are associated with the provider products.
Planning tools and provider representatives can help you determine what type of investor you are and which investments are appropriate for your investment style.
*Please note: investment returns are not guaranteed by the State of Iowa or the US Government and are not FDIC insured. Fixed rates are guaranteed by the issuing investment provider.
Changes
You may update your beneficiary and choose to stop or change the amount of your deductions, investment selection (some provider exceptions) and provider selection (penalties may apply), at any time (see Change Options). Be sure to ask your provider if fees or restrictions apply to investment and provider changes.
