Deferred compensation plan provider change
Summary
The commission switched the city's 401(a)/457(b) plan administrator to VALIC from Nationwide, after Nationwide made a last-minute offer to stay at reduced fees. Staff said the single-vendor model saves employees an estimated $1.25 million a year in fees.
At a glance
- Total mentions
- 3
- Last 30 days
- 0
Discussed at 1 meeting in the last 60 days; most recently Oct 6, 2026.
Impact analysis
Saves city employees an estimated $1.25 million a year in plan fees.
City employees saving on retirement plan fees.
Employees who preferred to remain with Nationwide lose that option.
Mentions & discussions (1)
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