Is Your 403(b) Plan With TIAA-CREF? If So, Please Read Below

Heartland AEA’s 403(b) program is made available to staff through the State of Iowa’s 403(b) plan, commonly referred to as the Retirement Investors’ Club (RIC). A few months ago, RIC went through a public competitive bid process to determine investment providers for 2016 and beyond. The Agency has been informed that beginning Jan. 1, 2016, TIAA-CREF will no longer be offered as an investment provider under the RIC plan. 

By Dec. 31, 2015, staff members using TIAA-CREF as their investment provider must open an account with one of the four remaining investment providers if they wish to continue their 403(b) contributions. These remaining providers successfully proposed investment products and services that meet the requirements and level of excellence set by the RIC. The four providers are: 

• Horace Mann 
• MassMutual 
• VALIC 
• Voya 

Monies currently invested in TIAA-CREF 403(b) accounts may remain invested, but no future contributions will be allowed after Dec. 31, 2015. Staff members who currently contribute to TIAA-CREF and who wish to continue to contribute must establish an account with one of the providers listed above by Jan. 1, 2016. 

Visit the RIC providers’ webpage for investment provider information that may be helpful as you consider a new provider. This updated election form will need to be completed (archived on the Intranet > Benefits > Retirement) once you’ve selected a new provider. 

If you have any questions, contact Steve Jordan, Senior Payroll Specialist, at sjordan@heartlandaea.org or ext. 14908.