The Iowa Loan Plan for Key Employees is a financial program aimed at attracting and retaining highly skilled professionals in the state. This initiative offers various loan options specifically designed for key employees who wish to purchase a home, finance their higher education, or start a business in Iowa. One type of the Iowa Loan Plan for Key Employees is the Home Purchase Loan. This loan provides financial assistance to key employees who are interested in buying a home within the state. This loan program offers competitive interest rates, flexible repayment terms, and down payment assistance for eligible applicants. Another type is the Education Loan, which aims to support key employees who want to further their education or acquire additional skills to enhance their professional development. This loan helps cover tuition fees, textbooks, and other related expenses. It offers favorable repayment conditions and low interest rates to facilitate the pursuit of advanced education within Iowa. The Business Startup Loan is yet another type of the Iowa Loan Plan for Key Employees. This loan is designed to encourage entrepreneurial activity among key employees by providing them with the necessary funding to launch their own business ventures in Iowa. The loan amount can be utilized for various startup costs, including equipment purchase, office space leasing, marketing, and working capital. In order to be eligible for any of these loan options, key employees must meet specific criteria established by the Iowa Loan Plan. These criteria typically include being a resident of Iowa, having a verified employment in a designated key role within the state, and demonstrating a commitment to long-term contribution to Iowa's economic growth. The Iowa Loan Plan for Key Employees not only assists individuals in fulfilling their personal and professional aspirations but also contributes to the growth and development of the state's economy. By providing financial support and incentives, Iowa aims to attract and retain key employees who will bring valuable skills, knowledge, and innovation to the workforce, ultimately strengthening the state's overall competitiveness.
Iowa Loan Plan for Key Employees
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The Iowa Retirement Investors' Club (RIC) 457/401(a) program is your employer-sponsored supplemental retirement savings benefit. Your contributions to RIC, along with the State's matching contributions, are meant to supplement your pension (IPERS, POR, Judicial, TIAA) and Social Security (SS) benefits in retirement.
Normal Retirement Age When your age plus years worked in IPERS-covered employment equals or exceeds 88 (Rule of 88) Age 62 with 20 or more years of IPERS-covered employment (Rule of 62/20) Age 65.
The Iowa Retirement Investors' Club (RIC) 457/401(a) program is your employer-sponsored supplemental retirement savings benefit. Your contributions to RIC, along with the State's matching contributions, are meant to supplement your pension (IPERS, POR, Judicial, TIAA) and Social Security (SS) benefits in retirement.
Under Iowa labor law, employers are required to provide non-exempt employees with unpaid meal breaks that last at least 30 minutes for shifts lasting between five and eight hours. Iowa law also mandates that workers receive a subsequent meal break again after eight hours of work.
Program Summary: The Iowa Retirement Investors' Club (RIC) 403b Plan is your employer's supplemental. retirement savings benefit designed to help eligible employees* save a portion of current wages to supplement IPERS and. Social Security income in retirement. There are no vesting requirements!