Revolutionary Conference of Mayors Retirement Program with Great-West
January 14, 2013
Effective October 8, 2012, the United States Conference of Mayors Deferred Compensation Program (formerly known as the Nationwide/USCM Program) selected Great-West Retirement Services to administer the Program.
The Conference of Mayors selected Great-West based upon an extensive, qualitative review of benefits, cost structures, product offerings, and supporting services in this market. Great-West was identified as the best-in-class service provider capable of offering products and services that focus on benefitting city employees. Under the Conference of Mayors Program, with Great-West as the service provider, cities and their employees will realize these benefits:
- Elimination of administrative fees, meaning more of employeesí dollars will go toward their retirement savings (and not toward fees)
- Enhanced education services and communications materials for 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
- A plan fiduciary warranty
- New account management tools available 24/7 through the Programís new website www.USCMRetire.org/transition and an automated voice response system 1-888-303-USCM
- Continued advocacy and oversight of the Conference of Mayors combining the negotiating power of thousands of government entities, Great-West is one of the nationís 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 U.S., servicing 25,000 plans representing 4.5 million participant accounts and more than $166 billion in assets.
The new partnership is committed to providing mayors and cities with the innovative tools and services needed to serve city employees and their beneficiaries up to and through retirement. The flexibility in products and services puts the Conference of Mayors Program in its own unique retirement solutions market, with a laser focus on enabling cities to adopt best practices in providing for employee retirement.
If you have not done so, the Conference of Mayors encourages your city to schedule an appointment with a representative of the new Conference of Mayors Great-West Program to learn more about how this Program can add tangible value to your cityís overall employee retirement plan. As always, Conference of Mayors is working for no more than the assurance that they are offering the very best to Americaís cities and their employees.
To learn more about the Conference of Mayors Program with Great-West, contact Kathryn Kretschmer-Weyland with the Conference of Mayors at 202-302-6944 or send e-mail to firstname.lastname@example.org.