WASHINGTON, Aug. 22, 2011 /PRNewswire/ -- ICMA-RC announced today that it was selected by the Missouri State Employees' Retirement System (MOSERS) to be the sole provider of record keeping and education services for the State of Missouri Deferred Compensation Plan.
"After conducting a thorough review process, we are very pleased to have selected ICMA-RC as our sole provider for the MOSERS plans," said Manager of Defined Contribution Plans, Cindy Rehmeier. "We chose ICMA-RC for several reasons, including ICMA-RC's focus on the public plan sector and plan administration, enhanced client support and flexibility, and competitive plan administration pricing."
The State of Missouri Deferred Compensation Plan has $1.5 billion in assets and offers retirement saving options to approximately 55,000 state and local university employees. Under the agreement, the record keeping and education services will transfer to ICMA-RC in November 2011.
"We are pleased that MOSERS has placed its confidence in ICMA-RC," said ICMA-RC President and CEO Joan McCallen. "MOSERS' selection of ICMA-RC in providing retirement plan services to the public employees of the State of Missouri is a strong indication that we are accomplishing our mission of helping participants build retirement security."
Founded in 1972, ICMA-RC is a non-profit independent financial services corporation focused on providing retirement plans and related services for close to a million public sector participant accounts and approximately 9,000 retirement plans. ICMA-RC's mission is to help build retirement security for public employees by providing investment tools, financial education, and other retirement savings related services. The corporation also works to ease the administrative responsibility of local governments that offer these benefits to their employees. For more information, visit www.icmarc.org.