Deals & PeopleJanuary 26, 2010

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

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.

Reported by Rebecca Moore

A VALIC announcement 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.

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).