ICMA-RC Expands its Defined Contribution Business, Enters Additional Not-for-Profit Markets
In 2019, the company expanded the retirement services provided to public education and healthcare organizations.
Washington, D.C., April 09, 2020 (GLOBE NEWSWIRE) -- For nearly half a century, ICMA-RC has provided recordkeeping and retirement-related services to local and state governmental organizations. In 2019, the company expanded the retirement services provided to public education and healthcare organizations. Now, ICMA-RC will provide retirement plan recordkeeping to additional segments of the not-for-profit sector, including private healthcare, religious organizations, and private education institutions.
“ICMA-RC’s mission-based focus, and our dedication to the public sector, align us closely with other not-for-profit organizations and their employees,” said Lynne Ford, CEO and President of ICMA-RC. “Industry consultants particularly appreciate our best-practice approach to providing recordkeeping services. We look forward to serving a whole segment of the market as we expand our presence.”
The new initiative means that ICMA-RC will offer recordkeeping services not only to public education and healthcare organizations but will now also include private education (K12 and higher ed), healthcare, religious organizations, and other not-for-profits under ERISA. The company launched the initiative to offer the products and services currently provided to local and state government employees to others who serve their communities.
“We are looking forward to providing a fully bundled recordkeeping package to not-for-profit organizations and their employees, including complete ERISA recordkeeping services,” said Bruce Corcoran, Managing Vice President, Head of Education, Healthcare and Not-For-Profit Business. “We are committed to offering low-cost and high-touch solutions that our plan sponsors and participants have become accustomed to receiving from ICMA-RC.”
About ICMA-RC
Founded in 1972, ICMA-RC is a non-profit, independent financial services corporation with approximately $60 billion in assets under management and administration (as of December 31, 2019), focused on providing retirement plans and related services for over a million public sector participant accounts. ICMA-RC’s mission is to help public sector employees build retirement security. 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, download ICMA-RC's mobile app from the App Store® and Google PlayTM or follow ICMA-RC on Facebook, LinkedIn, and Twitter.
Aprile Pritchet ICMA-RC 202-962-8067 [email protected]