STATE OF IOWA’S RETIREMENT INVESTORS CLUB 403(B), 457(B) AND THE 401(A) PLANS
This website is designed to provide advisors servicing the State of Iowa’s Retirement Investors’ Club (RIC) participants with helpful information and tools. On an ongoing basis, we will continue to post resources so that you can successfully help participants get the information they need to succeed.
Yes, you’re in the right place. Welcome to Empower Retirement. Empower recently acquired MassMutual’s retirement plan business. As you navigate your site, you’ll notice many of the pages still have a MassMutual logo. That’s okay; it will take some time to fully transition you to the Empower experience. Learn more.
ANNOUNCEMENT: NEW PAYROLL DEDUCTION ELECTION PROCESS THAT ONLY
APPLIES TO STATE EMPLOYEES IN THE 457/401(A) PLANS:
Education-related and local government employers participating in RIC plans are not affected by these changes.
For State of Iowa employees, the RIC Account Form is no longer being accepted for deduction change requests.
Employees of the State are now using Workday to make payroll deduction elections. To review the new process please visit https://das.iowa.gov/RIC/SOI/documents.
457(b) and 401 (a)
Effective on the closing date of the transaction, Empower Retirement (Empower) acquired the Massachusetts Mutual Life Insurance Company’s (MassMutual) retirement business. Through this transaction, business written by MassMutual is reinsured by Great-West Life & Annuity Insurance Company (GWLA) and in New York by Great-West Life & Annuity Insurance Company of New York. Concurrently, MassMutual retroceded business it reinsures from a cedent, which MassMutual assumed in a previous transaction. On the closing date of the transaction, Empower will administer the business on MassMutual’s behalf, with certain administrative services being performed by MassMutual and its affiliates during a temporary transition period. Additionally, GWFS Equities, Inc., will be the distributor of the MassMutual insurance products sold on Empower’s platform. Empower Retirement refers to the products and services offered by GWLA and its subsidiaries. GWFS Equities is a subsidiary of GWLA and an affiliate of Empower Retirement, LLC; Great-West Funds, Inc.; and registered investment advisers Advised Assets Group, LLC and Personal Capital. Empower is not affiliated with MassMutual or its affiliates.