ASBO International Strategic Partner
For more than half a century, VALIC has served as a leading retirement plan provider for K–12 schools and school districts, as well as for higher education, healthcare, government, and other not-for-profit institutions. As of December 31, 2013, VALIC has more than $85 billion in total assets under management and manages plans for nearly 25,000 organizations serving nearly 2 million plan participants.
VALIC is one of ASBO International's longest-standing partners, steadfastly supporting the association at the highest sponsorship level every year for over 10 years. VALIC was the first sponsor of the Certificate of Excellence in Financial Reporting and remains committed to its success. ASBO International members have benefited from VALIC's expertise in all aspects of retirement plans, including innovative investment options, employer plans, and financial planning. VALIC has developed comprehensive programs that educate participants and the varied factors associated with retirement planning.
Read about K–12 retirement plan consortium structures.
Explore VALIC’s materials for 403(b) plan guidance in our resource center.
Face to Face with John Kevin, VALIC
Putting your hard-earned money into trusted hands is a critical decision. Leading retirement plan provider Variable Annuity Life Insurance Company (VALIC), celebrating its 60th year, is the choice of many, boasting more than two million individual participants, of which hundreds of thousands are public school employees.
John Kevin, VALIC’s vice president of K–12 markets, came on board nearly four years ago after serving as an investment officer for Montgomery County Public Schools in Maryland. In that role, he devoted a lot of time to overseeing 403(b) plans for county school employees.
He explains that VALIC was the first company to sell 403(b) plans to public school districts, beginning in 1964 with Dade County, Florida, which is still a client today. The company has been persistent in staying up to date on government changes to these plans and equally diligent in keeping their customers informed of those changes.
“Our service model provides participants with full financial services,” John says. “All school employees are entitled to a financial advisor and counseling on all financial well-being matters.” He explains that VALIC focuses on simplifying the process of retirement planning, which can get complicated, through its spectrum of client care. This includes a robust interactive website, a call center for people to reach experts over the phone, and of course, a nationwide network of financial advisors who can sit down with customers and answer their questions face to face.
John’s prior experience as a school business official brings a unique perspective to his current position. Since he understands how to engage public school employers, he is able to explain to them how retirement plans benefit both employers and employees. Educating school business officials on certain plan provisions can result in savings for school districts—this is yet another service VALIC provides.
In addition to its decades of experience and commitment to the education marketplace, the company is known for its flexibility to structure and administer plans. What suits one district may differ greatly from what works for others. VALIC understands this and works with each according to their needs.
VALIC greatly values its longstanding relationship with ASBO International and is a proud sponsor of the Certificate of Excellence in Financial Reporting (COE) program, which honors school districts for excellence and best practices in financial reporting. “The ASBO membership is very engaging, and that is the type of sponsorship we enjoy,” John says. “It’s not about any of us standing up and talking. We want to listen, hear options, and offer solutions.”