Revolutionary Changes to the USCM℠ 457 Program Will Save Your Employees Money

As you know, we are an organization comprised of Mayors with the purpose of securing the betterment of our cities and the people that live in our cities. That is not only our purpose, it is our promise. Accordingly, effective October 8, 2012, the United States Conference of Mayors℠ Deferred Compensation Program (“Program”) (formerly known as the Nationwide/USCM Program) has selected Great-West Retirement Services® (“Great-West”) to administer our Program.

We selected Great-West based upon an extensive, qualitative review of benefits, cost structures, product offerings, and supporting services in this market. We identified Great-West as the best-in-class service provider capable of offering products and services that focus on benefitting our city employees. Under our Program, with Great-West as our service provider, you and your employees will realize these benefits:

  • Elimination of administrative fees, meaning more of your employees’ dollars will go toward their retirement savings (and not toward fees)
  • Enhanced education services and communications materials for your employees, including face-to-face and online seminars
  • An expanded lineup of quality investment options, including exciting target date funds and a guaranteed lifetime withdrawal benefit
  • New account management tools available 24/7 through the Program’s new website www.USCMRetire.org/transition and an automated voice response system 1-888-303-USCM

Great-West is one of the nation’s leading providers in the retirement services industry. In fact, they are the number one provider of retirement plan record-keeping for the 457 public market and the fourth-largest retirement plan record keeper in the United States, servicing 25,000 plans representing 4.5 million participant accounts and more than $219.9 billion in assets.

Our new partnership is committed to providing you with the innovative tools and services needed to serve your employees and their beneficiaries up to and through retirement at competitive pricing. The flexibility in our products and services puts our Program in its own unique retirement solutions market, with a laser focus on enabling our cities to adopt best practices in providing for employee retirement.

We are committed to making this transition from Nationwide to our full service provider Great-West as simple and seamless as possible. If you have any questions or need additional information, please contact the Program directly at 1-888-303-USCM (8726), or visit our website at www.USCMRetire.org/transition.