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Iowa Chooses Contractor

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Hawkeye State regulators are in the process of selecting a unit of Security Benefit Corp. to provide retirement benefits programs public employers in the state.

The Iowa Department of Administrative Services has announced its intent to award a contract with the Retirement Investors’ Club of Iowa to Security Benefit, Topeka, Kan.

If Security Benefit wins the contract, it will be one of 5 providers of 403(b), 457 and 401(a) services for the 370 Iowa public employers, the company says.

Employers that use the Iowa RIC program have about 30,000 plan participants and about $500 million in plan assets.