VALIC has been a 403(b) provider for the group for 33 years and will now also be a 457(b) plan provider, as well as serve as the common remitter, according to a press release.
The 6,700 employees at Howard University and its attached Hospital will have access to both VALIC’s annuity and open-architecture mutual fund platform that utilizes thousands of non-proprietary investment choices from over 100 fund families. VALIC will continue to provide access to professional financial advisers in the region who serve participants on-site and assist district employees with a wide range of retirement and financial planning issues.The announcement said plan participants will also have access to a complete suite of Internet support services and financial planning tools. As the selected common remitter for both groups, VALIC will offer plan participants the ability to aggregate information about all potential sources of retirement income into a single location through VALIC’s vendor-neutral Retirement Manager program.
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