Reminder: New Retirement Savings Option! Check Out 457 Retirement Savings Plan

As you hopefully know, Heartland AEA staff members can voluntarily save for retirement by participating in the Agency’s 403(b) retirement savings plan, which is made available through the Iowa Retirement Investors’ Club, commonly referred to as the RIC. 

We’re pleased to announce that beginning July 1, 2015, Heartland AEA will offer staff another retirement savings option—the RIC’s 457 savings retirement plan. 

403(b) vs. 457 
What is a 457 plan? It’s another retirement savings program that allows you to defer part of your salary now until retirement. The investment providers, advisors, investment options and generally the maximum deferral limits are the same as our 403(b) plan. And just like the 403(b) plan, you can contribute to the 457 plan on a pre- or post-tax basis. 

This comparison sheet gives a high level side-by-side comparison of the 403(b) and 457 plans. You’ll want to contact your financial planner or investment professional to help you determine which plan, or if a combination of both plans, is best for you. 

More Information 

• You can find more information about the new 457 plan on the RIC website. 
• Detailed questions about 403(b) plan administration can be directed to John Williams of the RIC at john.williams5@iowa.gov or (515) 725-2135. 
• Detailed questions about 457 plan administration can be directed to Jennifer Sandusky of the RIC at jennifer.sandusky@iowa.gov or (515) 281-0569. 
• Payroll election forms can be found on the Intranet under Benefits > Retirement. 
• General plan or payroll deduction questions can be directed to Steve Jordan, Senior Payroll Specialist, at sjordan@heartlandaea.org or ext. 14908.