Great-West Retirement Services Lands City of Jacksonville Plans
GREENWOOD VILLAGE, CO, November 2, 2009 -- Great-West Retirement Services announced today that the City of Jacksonville, Florida has retained its services as the city's exclusive provider for both its 457 deferred compensation retirement plan and its new 401(a) defined contribution retirement plan. 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. Both plans were made available to city employees earlier this month. Great-West Retirement Services also has been retained to manage the plan's custom stable value fund.
"We're delighted we were selected to provide retirement savings plans for the City of Jacksonville's employees," said Gregg Seller, senior vice president, Great-West Retirement Services. "With Great-West's consolidated platform, Jacksonville employees 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."
Millie Reeves, plan administrator for the City of Jacksonville, said, "We conducted an extensive procurement and review process, and Great-West Retirement Services distinguished itself by demonstrating its ability to offer a variety of quality funds and services at a competitive price."
Earlier this year, several other government entities selected Great-West Retirement Services to provide their deferred compensation retirement plans, including the city and county of San Francisco and the state of Texas.
"Great-West Retirement Services is committed to this market and to helping individuals understand the importance of saving for retirement," Seller said, "so we're very happy when a potential client chooses us. We look forward to continuing to help Jacksonville employees reach their retirement savings goals."
About Great-West Retirement Services
Great-West Retirement Services, a business unit of Great-West Life & Annuity Insurance Company, is the fourth-largest retirement plan record keeper in the United States, based on total participants at year-end 2008, according to a ranking by Spectrem Group. In all, Great-West Retirement Services provided 401k, 401(a), 403(b) and 457 retirement plan services to nearly 21,000 plans representing 3.7 million participants and $92 billion in assets at Dec. 31, 2008.
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