WASHINGTON, May 25, 2017 /PRNewswire/ -- ICMA-RC, a leading provider of public sector retirement plans and services, is celebrating its 45th anniversary this month. ICMA-RC was created in 1972 through the assistance of a Ford Foundation Grant to provide portable retirement savings to public sector employees. Today, ICMA-RC administers and manages over $50 billion in assets and has more than one million local and state government participant accounts across the country.
The City of Charlottesville, Virginia was ICMA-RC's first plan under the direction of then City Manager Cole Hendrix. ICMA-RC is still the City of Charlottesville's retirement plan provider. "Saving with ICMA-RC many years ago played a key role in me being able to successfully retire," said Hendrix, ICMA-RC's first participant. "It brings me great satisfaction to have been with ICMA-RC at the start and to see generations of public servants work towards building their own retirement security."
Anticipating the evolving retirement needs of public sector employees and providing ongoing value to participants has been central to ICMA-RC's success. ICMA-RC pays particular attention to the unique needs of local and state government employees in designing and offering its services, which is a testament to its 99% plan retention rate.
"ICMA-RC's success has been driven by the tremendous efforts of our associates who have committed themselves to providing exceptional service and robust retirement solutions to those who serve our communities," said ICMA-RC President and CEO Bob Schultze. "ICMA-RC is incredibly honored that we have played a role in helping build retirement by serving those who serve for 45 years."
Founded in 1972, ICMA-RC is a non-profit independent financial services corporation with $51 billion in assets under management and administration (as of March 31, 2017) focused on providing retirement plans and related services for over a million public sector participant accounts. ICMA-RC's mission is to help build retirement security for local and state government employees. The organization's mission is delivered through its RealizeRetirement® approach in which ICMA-RC representatives actively engage participants in their retirement programs, help them build their asset base, and help them realize their retirement goals through a comprehensive retirement planning strategy. For more information, visit www.icmarc.org or follow ICMA-RC on Facebook, LinkedIn and Twitter.
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