In addition, the plan converted from VALIC’s annuity platform to its open-architecture mutual fund platform that utilizes thousands of non-proprietary investment choices from over 100 fund families. The platform features a fixed-interest option and technology enhancements at both the plan sponsor and plan participant level, according to a press release.
Participants also have access to an on-site financial adviser to assist employees with retirement and financial planning issues.
VALIC is among three retirement plan providers and has served the plan since 1992.