Financial services leader will administer state's deferred compensation plan
GREENWOOD VILLAGE, Colo., Dec. 3, 2013 — Great-West Financial® has signed a five-year contract with the Public Employees’ Retirement System of Mississippi (PERS) to provide third-party administration for the Mississippi Government Employees’ Deferred Compensation Plan & Trust (MDC).
Pat Robertson, executive director of PERS, said, “The PERS Board of Trustees selected Great-West Financial as the third-party administrator because of the proposed scope and quality of services that will be provided to our participants. We are looking forward to this partnership with Great-West Financial aimed at helping all MDC-eligible employees meet their retirement savings goals.”
The contract is effective Jan. 17, 2014. MDC is available to all state and public education employees, elected officials, and employees of counties, cities, and other participating political subdivisions, as well as independent contractors of the state or its participating subdivisions. MDC had $1.5 billion in assets and more than 39,500 participants as of October 31, 2013.
“We’re excited to begin working with Mississippi public employees to build savings strategies that take them to and through retirement,” said Brent Neese, vice president of Government Markets for Great-West Financial. “Our goal is to help our customers create bright financial futures where retirement is only the beginning.”
About Great-West Financial
Great-West Financial® is a registered mark of Great-West Life & Annuity Insurance Company. Headquartered in metro Denver, Great-West Financial administers $201.5 billion in assets for its 5.2 million retirement, insurance and annuity customers.
Great-West Financial is the nation’s second largest underwriter of life insurance sold through banks (BISRA Life Report, Second Quarter 2013, based on total premiums at June 30, 2013) and fourth-largest retirement plan record keeper (Plansponsor, June 2013, based on total participant accounts at Dec. 31, 2012). It is an indirect, wholly owned subsidiary of Great-West Lifeco Inc. and "A Member of the Power Financial Corporation Group of Companies" ®.
Great-West Financial®refers to products and services provided by Great-West Life & Annuity Insurance Company (GWL&A), Corporate Headquarters: Greenwood Village, CO, its subsidiaries and affiliates. Recordkeeping information and rankings reflect all recordkeeping customers of GWL&A subsidiary FASCore, LLC: those of institutional partners, third-party administrator clients and Great-West Financial. The trademarks, logos, and registered marks used are owned by GWL&A. “A Member of the Power Financial Corporation Group of Companies” is the registered mark of Power Corporation of Canada.
Contact:
Molly Schlax
FleishmanHillard
O: 312-729-3661
M: 847-309-9552
Molly.Schlax@fleishman.com
Lisa Gigax
Director, Corporate Communications
Great-West Financial
O: (303) 737-6290
lisa.gigax@greatwest.com