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November 2015Iowa Retirement Investors’ Club457(b) Employee Contribution Plan & 401(a) Employer Match PlanRetirement Plan NewsImportant news about your 457(b) & 401(a) Plan accountsThe Iowa Retirement Investors’ Club (RIC) is committed to helping you save toward a financially independentretirement. As part of that effort, the RIC is making changes to the investments in the 457(b) & 401(a) Plans.Voya Retirement Insurance and Annuity Company (VRIAC), a member of the Voya family of companies, is proud to continue providing retirement plan services to theparticipants in the RIC 457(b) Employee Contribution and 401(a) Employer Match Plans.Effective January 2016, plan changes are being offered to help you prepare foryour future financial and retirement goals. Be sure to read this newsletter andaccompanying materials carefully. Consider how these changes may affect yourretirement planning aswell as your overall financial strategy.Questions?Please contact your localrepresentative or the VoyaFinancial (Voya) office inDes Moines at (515) 698-7973or toll free at (800) 555-1970.We will be happy to discuss thesechanges to your plan accounts.What is changing?Beginning January 6, 2016, you will be provided with the following through our newproduct offering, Voya Retirement Choice II: New accounts under the same plans Revised menu of investment options for contributions Overall reduction in fees and expensesInvestment optionsA revised menu of mutual funds will be available through a custodial or trustagreement. The revised menu includes 33 new mutual funds with reduced overallfund expenses. Fees depend on the investment option chosen. Please refer tothe individual Fund prospectuses for fund fee information. These mutual fundinvestment options are available from a variety of well known fund families andspan various risk levels.Additional information includedwith this mailing:- Fee Disclosure- Performance ReportThis revised menu will offer an expanded range of target date retirement mutualfunds (American Funds Target Date Retirement Funds ) which provide a predetermined mix of investment options based on a specific target date for retirement,or the date the investor plans to start withdrawing money. Investors can select thefund that corresponds to their target date. These funds are designed to rebalanceto a more conservative approach as the date nears. An investment in a target dateretirement fund is not guaranteed at any time, including on or after the target date.
A credited fixed interest account, the Voya Fixed Plus III- 457/401 will continue to be offered through a group fixedannuity contract. Guarantees are based on the claims-payingability of Voya Retirement Insurance and Annuity Companyand do not apply to the investment return or principal valueof the mutual funds under a custodial or trust agreement.Under the new product offering, the Voya Fixed Plus III 457/401 is subject to an equity wash provision. This provisionrestricts direct transfers between the Voya Fixed Plus III 457/401 and any competing fund. There are currently twocompeting funds in the new menu of investment options,the Voya Money Market Fund - Class I (#003) and the selfdirected brokerage account. All transfers are also subjectto Voya’s Excessive Trading Policy. Refer to the RetirementChoice II Information Booklet for additional informationregarding these provisions. The Information Booklet isavailable online at VoyaRetirementPlans.com/custom/iowa.Important Change: The minimum guaranteed interest rate forthe Voya Fixed Plus III - 457/401 will be 1.00% for the life of thenew contract. Voya will credit at least 3.00% through 2017 and2.50% through 2018. The crediting interest rate thereafter willbe that of the prevailing interest rate (currently crediting 2.10%).Services & supportVoyaRetirementPlans.com/custom/iowaAll transactional and technological capabilities will continue tobe available online at VoyaRetirementPlans.com/custom/iowa.Account access is also available
retirement planning aswell as your overall financial strategy. Important news about your 457(b) & 401(a) Plan accounts The Iowa Retirement Investors' Club (RIC) is committed to helping you save toward a financially independent retirement. As part of that effort, the RIC is making changes to the investments in the 457(b) & 401(a) Plans.
