VALIC Partners With Mesirow Financial For Plan Essentials Product
Product Offers Retirement Planning Tools for High-Tech and High-Touch Employees
CHICAGO, June 7, 2011 – VALIC, a leading retirement plan provider recently recognized by PlanSponsor magazine with seven Best-in-Class awards for participant services, introduced Plan Essentials, a comprehensive platform of investment products and services in partnership with Mesirow Financial. VALIC Plan Essentials is designed to address the fiduciary needs of plan sponsors while providing plan participants with meaningful retirement planning support, whether they prefer the convenience of a computer or counsel provided through an in-person meeting.
"VALIC is proud to present the Plan Essentials products and services with Mesirow Financial," said Bruce Abrams, President and CEO of VALIC. "We developed a quality platform backed by decades of experience that suits the complex needs of plan sponsors and participants. I am confident that our partnership through Plan Essentials will be a strong asset to our clients as they plan for retirement."
VALIC Plan Essentials offers two carefully selected investment lineups that have passed a comprehensive filtering process as part of Mesirow Financial's fiduciary investment support. The Core investment lineup typically consists of funds that track widely followed market indexes. Plan sponsors who feel that their employees have a greater level of investment knowledge or simply want more choices can opt for the Expanded investment lineup, which includes more complex investment alternatives and an expanded range of market capitalization in addition to the Core investment options.
Plan sponsors who choose VALIC Plan Essentials receive access to a broad range of services that simplify account management. Mesirow Financial will act as a fiduciary to select, monitor, and make ongoing adjustments to investment portfolios as needed. Each plan sponsor will have a dedicated, experienced account management team, comprehensive employee communications and education materials, and compliance solutions to ensure adherence to plan requirements.
"We are delighted to lend our services to VALIC's plan sponsors through the Plan Essentials platform," says Michael Annin, Senior Managing Director of Mesirow Financial's Investment Strategies Department. "With over 70 years in the financial services industry, our experts are here to help plan sponsors make the appropriate investment decisions for their employees."
The tools and services available for plan participants are designed to address the growing number of technology and investment savvy employees, while maintaining the on-site service methodology that has been a VALIC tradition for over 50 years. Participants can choose a more "hands-on" approach to retirement planning, taking advantage of VALIC's many online educational tools and calculators, though seminars, group meetings, and an on-site financial advisor will also be available should participants prefer a full-service experience.
"Our priority is meeting the retirement planning needs of our clients," said Bruce Abrams. "Whether they are high-tech, high-touch, or somewhere in between, we want to provide them with the individualized support to successfully plan for a secure retirement on their terms."
For more than half a century, VALIC has served as a leading plan provider to higher education, K-12 schools, healthcare and government institutions. As of fourth quarter 2010, VALIC has more than $68 billion in assets under management and manages plans for nearly 25,000 groups, serving nearly two million plan participants. VALIC represents The Variable Annuity Life Insurance Company and its subsidiaries, VALIC Financial Advisors, Inc. and VALIC Retirement Services Company.
The Investment Strategies group at Mesirow Financial is an independent, third-party investment consultant that provides robust asset allocation strategies and fund selection to defined contribution providers, insurance companies, broker/dealers and mutual fund companies.
Mesirow Financial is a diversified financial services firm headquartered in Chicago. Founded in 1937, it is an independent, employee-owned firm with 1,200 employees in locations across the country and in London. The firm is well capitalized and has been consistently profitable, with capital of $299 million, revenues totaling $526 million for fiscal year 2010 and $55.4 billion in assets under management, of which $27.2 billion are in currency and commodities as of March 31, 2011. With expertise in Investment Management, Global Markets, Insurance Services and Consulting, Mesirow Financial strives to meet the financial needs of institutions, public sector entities, corporations and individuals. For additional information, visit online at mesirowfinancial.com.
The Mesirow Financial name and logo are registered service marks of Mesirow Financial Holdings, Inc., © 2011, Mesirow Financial Holdings, Inc. All rights reserved. The information contained herein has been obtained from sources believed to be reliable, but is not necessarily complete and its accuracy cannot be guaranteed. Any opinions expressed are subject to change without notice. It should not be assumed that any recommendations incorporated herein will be profitable or will equal past performance. Nothing contained herein constitutes an offer to sell or a solicitation of an offer to buy an interest in any Mesirow Financial investment vehicle(s).
Securities offered through Mesirow Financial, Inc. member NYSE, SIPC. Insurance services provided through Mesirow Insurance Services, Inc.