College Transitioning to VALIC to Administer Retirement Plans This Summer

A Message from Mary Beth Clifton, Assistant Vice President, Total Rewards and Workforce Planning

As shared in February 2017, VALIC, one of Valencia’s current providers for our voluntary 403(b) retirement plans, has been selected as the administrator of the College’s FICA alternative, special pay, voluntary retirement and defined contribution plans.

Please note that this change does not include or affect administration of our Florida Retirement System (FRS) or Community College Optional Retirement Program (CCORP).

In June, employees (both full and part-time) who currently have one of the College’s FICA alternative, special pay, voluntary retirement or defined contribution plans will receive a letter from VALIC at their home address to explain the transition, provide account conversion information and outline the “quiet period” dates that are required to process the conversion to VALIC.

The last Valencia deposit to these plans will take place on Friday, July 28, 2017, which will be followed by a quiet period, when no changes to accounts can be made.

The transition to VALIC will be effective on Tuesday, August 1, 2017, and the first Valencia deposit to VALIC will be on Friday, August 11, 2017.

For additional information, click here.

If you have any further questions, please contact Tom Keller, director, benefits, at tkeller8@valenciacollege.edu or 407-299-5000, extension 3888 or your campus director of organizational development and human resources.

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