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A little investigation- refering to the fraternity education manual, the "iota" we are looking at is the highest out of the four Arc of Epsilon Pi awards.
"There are presently four Arcs of Epsilon Pi, given for outstanding service to an undergraduate or alumnae chapter, to an alumnae club, to a Province, to the International Fraternity, or a combination of such service.
The Arc requires service of not less than five years. Subsequent Arcs- the Arc with Diamond, the Arc with Diamonds, and the Arc with Diamonds and Pearl- require additional service of at least six years between receipt of the Honors. For example, the Wearer of the Arc with Diamonds and Pearl has given a minimum of twenty three years of service."
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