Deals & People
Great-West Wins Jacksonville 457, 401(a) Plans
<p>Great-West Retirement Services announced that the City of Jacksonville,
Florida, has hired it as the city’s exclusive provider for its 457
deferred compensation retirement plan and its 401(a) defined
contribution retirement plan.</p>
Reported by Rebecca Moore
According to the announcement, the 457 plan currently serves more than 5,000 employees and has more than $141 million in assets. The 401(a) plan is a new savings option for the city’s employees. Great-West also has been retained to manage the plan’s custom stable value fund.
Millie Reeves, plan administrator for the City of Jacksonville, said Great-West “distinguished itself by demonstrating its ability to offer a variety of quality funds and services at a competitive price.”
Gregg Seller, senior vice president, Great-West Retirement Services, added that plan participants will “have access to lower-cost funds, a team of three dedicated service staff, and a variety of helpful education tools designed specifically for city employees.”