Products February 17, 2012

Alabama Education Association Selects TIAA-CREF as Provider

February 17, 2012 (PLANSPONSOR.com) - TIAA-CREF has been selected by the Alabama Education Association (AEA) as the exclusive endorsed retirement plan provider for AEA’s more than 104,000 members in 173 school districts and community colleges across the state.
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By working together, AEA’s members will have access to a centralized plan, creating economies of scale by pooling assets.   

  • Alabama Educators will benefit from the following plan features: 
  • Local assistance and one-on-one financial advice available through Collateral Financial Advisors, an Alabama-based registered investment adviser; 
  • Access to TIAA-CREF web-based and call center counseling and advice services; 
  • A choice of mutual funds and annuities from TIAA-CREF as well as funds from other investment providers with no sales charges or surrender fees; 
  • Access to built-in guaranteed lifetime income; and 
  • Streamlined 403(b) and 457(b) compliance and administrative capabilities.  

 

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“The market volatility of the past several years highlights the importance of working with a financially strong and low-cost provider to help individuals make the most of saving for retirement,” said Dr. Paul Hubbert, Former Executive Secretary-Treasurer, Alabama Education Association. “TIAA-CREF, a provider that exemplifies these qualities, along with Collateral Financial Advisors, an Alabama-based Registered Investment Advisor offering access to objective, fee-based advice, will encourage educators to take advantage of the savings plan and help them seek a safe and secure retirement.”
Compliance February 16, 2012

EBSA to Hold Webcast About Small Business Retirement Plan Options

February 16, 2012 (PLANSPONSOR.com) - As part of America Saves Week, the U.S. Department of Labor’s Employee Benefits Security Administration and the America Saves campaign of the Consumer Federation of America will host a free webcast for small businesses, their accountants and service providers.
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Topics for the webcast on Thursday, February 23, 2012, from 2 to 4 p.m. EST include choosing a retirement savings plan and the advantages of direct deposits to small businesses and their employees.  

The webcast will focus on retirement savings options ranging from simplified employee pensions and savings incentive match plans for employees, otherwise known as SEPs and SIMPLE IRAs, to various types of 401(k) plans. The simpler options often require little or no paperwork, while 401(k) plans offer more flexibility in plan design. Some plans allow employees to make additional contributions as a way to grow their retirement savings.    

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The DoL will be joined by the American Institute of Certified Public Accountants to discuss retirement savings options available for small businesses. The webcast will provide practical information and helpful tips to understand and compare these options while also providing insights on starting and operating a retirement savings plan.   

Additionally, the Consumer Federation of America and NACHA-The Electronic Payments Association will focus on direct deposits as a simple way for employees to build retirement savings at work and a secure financial future. They also will discuss the advantages of direct deposit for employers, including simplifying business processes.   

Register for the webcast online at http://www.dol.gov/ebsa. 

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