Human Resources
Retirement Investors' Club (RIC)
Transfer or Continue Life Insurance
If you are currently contributing to a life insurance policy within RIC, you have two options:
1. Continue funding the policy with
- pretax contributions while employed
- after-tax premiums if no longer employed by the State of Iowa (cash value may be taxed)
2. Forfeit the death benefit of the life policy and
- roll over your cash value to a different provider while employed
- take a cash distribution (lump sum or systematic payments) if no longer employed by the State of Iowa (this is a taxable distribution)