Human Resources
Retirement Investors' Club (RIC) 403b Program
Change Options While Employed
As a participants of the RIC 403b program, you have the option to change your:
Salary reduction amount (active provider accounts only)
Personal information
Asset allocation
Provider
Beneficiary designations
Redirect future contributions (active provider accounts only)
Change your salary reduction amount
You may change your salary reduction amount or stop it at any time by completing a RIC Salary Reduction Form and submitting it to your payroll office. Remember that all money deposited into RIC must go through your paycheck.
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Change your personal information
You may change your personal information at any time. Contact your provider directly for information on how to make changes to your name or address.
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Change your asset allocation
You may change your active provider asset allocations at any time with no fees. Call your active provider or change your accounts online (see the Provider section for contact information and web access). All participants may choose to sell their current investments and reinvest them in alternative investments within RIC (some inactive provider restrictions or fees may apply). Active employees may leave current assets invested as is and redirect their future contributions to alternative investments if they wish.
If you are with an inactive provider, changes may or may not be allowed by phone or internet. Your provider may require that you make your request in writing. Fees and restrictions may apply to these transactions. Contact your provider to ask what is required for making these changes.
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Exchange your provider
A provider exchange refers to the movement of some or all of your RIC assets from one investment provider to another provider in the plan.
Exchanges between active providers are not recommended unless you have been dissatisfied with your current active provider services or investments over a reasonable amount of time. Investments with an active provider have no restrictions or fees to consider.
If you still have assets invested with an inactive provider and wish to make an exchange, be sure to contact your old provider and ask if there are any fees and/or restrictions on moving your money out.
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Change your beneficiary
If you wish to change your beneficiary designation, contact your provider. Be sure that all policies reflect your new designation if that is what you have chosen.
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Redirect your future contributions
If you are with an active provider (see Providers), you may redirect your future contributions to different investments (within your provider product) at any time. There are no transaction fees. You may wish to keep invested assets as they are or reallocate them to different investment options. Contact your provider/advisor or make the changes to your accounts online (website links are available on the Provider page).
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