Fla. DC Plan Builds Out Investment Menu

December 31, 2002 (PLANSPONSOR.com) - Florida state and local government workers now can tap into a broader investment lineup from the state's defined contribution plan.

That’s because SAFECO Corp., is offering its SAFECO-ShareBuilder program though which public employees can select from 60 mutual funds, a guaranteed account fixed annuity, more than 4,000 individual stocks, and approximately 70 index securities.

According to SAFECO, its program allows investors to buy fractional shares of individual stocks. There are no account or investment minimums.

The government workers dollar-cost average their investments by establishing a recurring monthly investment plan, which may help even out market fluctuations over time, SAFECO said.

For more details, see the State of Florida  Deferred Compensation Plan site .