Olson is currently serving his fourth term in the Iowa House. He serves on the Judiciary, Public Safety, and Transportation Committees.
Olson attended Grandview College and Drake University, receiving his law degree from Drake in 1976. Upon graduation from law school, he went to work as an Assistant Polk County Attorney. He entered private practice in 1979 and has practiced law in Des Moines for more than 30 years. Additionally, Rick raises and races thoroughbred horses. He is married to Brenda Olson, a realtor in Des Moines. He has three daughters, Kate Hays, Lesley Zebic, and Samantha, and son in laws, John Hays & Mario Zebic. Olson currently serves on the Polk County Magistrate Appointing Commission.