A BOLD NEW PATH TO RETIREMENT - EMPOWER
Staunton City Schools' contract for supplemental retirement plan services with AIG (formerly VALIC) expires on 10/1/2021. After a thorough RFP process, EMPOWER has been selected to be Staunton City Schools next service provider after 10/1/2021.
Empower offers the following enhancements:
- The ability to request a withdrawal to pay for expenses related to the birth or adoption of a child.
- Roth after tax contributions to give you more savings options.
- New on-line tools and education to ensure you are on track for retirement.
- The Empower Retirement app to view your account wherever you go.
- Enjoy investment options beyond our plan with a self-directed brokerage account (SDBA). The SDBA is intended for the knowledgeable investor who acknowledges and understands the risks associated with the investments contained in the SDBA.
- Take advantage of the investment advice available through Empower Retirement Advisory Services. There is no guarantee provided by any party that participants in any of the advisory services will result in profit.
The attached Guideline (see link at the bottom of this page) is designed to give you additional information regarding this transfer and various timelines. It is our goal that you will not have to take any action, and that this transfer will take place through EMPOWER's transition team. When the transfer is completed in mid-October, you can anticipate further information as it relates to Empower log-in procedures, etc.
For those not currently enrolled in the supplemental retirement plan, we will be hosting virtual pre and post transition educational opportunities/meetings. Please watch your e-mail for those announcements.
Thank you for your patience and understanding as we move toward our transition. Please feel free to reach out to Jon Venn, Chief Human Resource Officer (firstname.lastname@example.org) or Cynthia Burnett (email@example.com) if you have any questions.