VALIC Selected as 403(b) Provider by University of Alabama System

January 26, 2010 ( - VALIC has been selected by the University of Alabama System (UAS) as a 403(b) plan provider for its more than 19,000 faculty and staff members.

A VALIC press release said UAS selected VALIC to be added to its existing plan as its second plan provider. VALIC will provide UAS access to its open-architecture mutual fund platform and will provide onsite service from professional financial advisers who will work with UAS plan participants on a wide range of retirement and financial planning issues.

Plan administrators and participants will also gain access to Retirement Manager, VALIC’s vendor-neutral solution for managing multiple retirement plans and multiple vendors, according to the announcement. It provides plan sponsors with a variety of administrative and compliance services while offering plan participants a single point-of-access to comprehensive retirement plan information, financial planning tools, and transaction capabilities across retirement products and carriers.

“We were searching for a business partner to provide our employees with great retirement education, investment choice, and personal service, and we also wanted assistance with plan administration, plan documents, and ongoing compliance support, and VALIC was the perfect match,” said Jon Garner, Human Resources Administrator, University of Alabama System Office, in the press release.

The University of Alabama System represents Alabama’s oldest and largest higher education enterprise and includes three doctoral research universities: The University of Alabama (UA), the University of Alabama at Birmingham (UAB), and the University of Alabama in Huntsville (UAH).