Products March 18, 2011
VALIC Renews Relationship with NY Health Care Providers
March 18, 2011 (PLANSPONSOR.com) – VALIC has renewed its contracts as the exclusive plan provider for the 457(b) plan of Nassau Health Care Corporation, also known as NuHealth, and the 403(b) and 457(f) plans of Ellis Hospital.
Reported by Rebecca Moore
VALIC has served as the exclusive retirement plan provider for Nassau Health Care’s 2,600 plan participants and Ellis Hospital’s 3,350 plan participants since 2006 and 2007, respectively. According to VALIC news release, in 2010, Nassau Health Care performed an independent audit, which highlighted VALIC’s below industry average fund and administration fees, and above average employee participation rate, contributions and account balances.
Nassau Health Care and Ellis Hospital will continue to have access to VALIC’s open-architecture mutual fund platform that utilizes thousands of non-proprietary investment choices from over 100 fund families.
VALIC will provide full-time, on-site service from professional financial advisors at both facilities who will work with employees on a wide range of retirement and financial planning issues. In addition, employees can use VALIC’s Guided Portfolio Services (GPS), a fee-based service that supports the retirement account management with objective advice regarding asset allocation, fund selection, retirement income forecasting, savings rate recommendations, and ongoing portfolio optimization.