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Prepared for Springfield R-XII School District
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part of the service team. They are available as a resource directly to the plan sponsor to
provide technical support with reporting, file transmission, plan design, compliance
questions, etc. The plan Coordinator adds value with their in depth understanding of
regulatory changes, system enhancements and operational procedures.
On average, each Plan Coordinator is assigned between 25 and 30 defined contribution
clients. Responsibilities include:
Maintaining a daily client relationship. This requires the assigned plan coordinator to be
the main point of contact for the plan sponsor’s daily administrative issues.
Responding to inquiries, performing research, and providing the plan sponsor’s
personnel with pertinent plan related information regarding plan activity and operations.
Coordinating plan activity with other areas within VALIC to ensure that all administrative
activities are executed properly.
Staff Size, Experience and Turnover Rate: VALIC staffs approximately 12 plan coordinators.
The average length of tenure among VALIC plan coordinators is 10 years. The average
length of industry experience among VALIC plan coordinators is 15 years.
Implementation Team
The implementation process will begin with the assignment of a VALIC home office team.
This team will be led by an assigned relationship manager who will remain as the main point
of contact after the implementation process is completed and will be responsible for
coordinating all aspects of the servicing model being designed. In addition, an
implementation consultant will be assigned to coordinate all aspects of recordkeeping setup,
trading responsibilities and data conversion.
Staff Size, Experience and Turnover Rate: VALIC employs approximately 26
implementation/conversion professionals and staff. The average experience for
implementation/conversion personnel is 20 years. The turnover rate for
implementation/conversion professionals is 3.5 percent.
2. What is the average number of clients managed by the relationship manager for plans
similar to the size of ours?
15
3. What type of training is required for new employees before they work on client
plans?
Once an employee is hired, we build upon his or her capabilities through our
comprehensive training program. The training program differs according to the
department and functions of each position. Our training department continually develops
and maintains our training programs (both initial and ongoing) and supports reference
materials to increase the professional and technical competency of our staff, especially
our local financial advisors who often work one-on-one with participants.