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AIG Retirement Services wins over reluctant employees and increases plan participation

Nestled in the Ozark Mountain region of southwest Missouri, Drury University is a private liberal arts institution dedicated to personalized education, blending theoretical knowledge with practical applications to the 21st century. The university has 11 locations serving approximately 2,700 students. 

Goals:

Drury University sought a plan administrator that could provide the services required to maintain a robust retirement plan. This would include:

  • Providing comprehensive participant education, particularly during the initial plan rollout 
  • Informing participants about the option to roll over their current plan assets to a new provider
  • Leveraging compliance services, including fee disclosures, audit support and compliance testing
  • Maintaining a high standard of performance while serving the needs of the university and its employees 

Challenges & Implementation:

After Drury University switched to AIG Retirement Services from a previous provider, employees were resistant to engaging in the plan due to past inadequate services. 

We partnered with the university’s executives to overcome reluctance through comprehensive communications and education, which included:

  • Five group informational sessions
  • At least 375 individual meetings

Results:

Enrollment increased by 5%. (Participation is 96% overall for active employees.) More than 80% of Drury University employees elected to roll their accounts over to AIG Retirement Services from the former plan provider.

As with all our plan sponsors, we continuously work to find solutions that drive results. So, let’s talk about what AIG Retirement Services can do for your organization!

Securities and investment advisory services offered through VALIC Financial Advisors, Inc. (VFA), member FINRA, SIPC and an SEC-registered investment advisor.

Annuities are issued by The Variable Annuity Life Insurance Company (VALIC), Houston, TX. Variable annuities are distributed by its affiliate, AIG Capital Services, Inc. (ACS), member FINRA. Guarantees are backed by the claims-paying ability of VALIC and are not the responsibility of AIG. VALIC, VFA and ACS are members of the American International Group, Inc. (AIG).

AIG Retirement Services represents AIG member companies—The Variable Annuity Life Insurance Company (VALIC) and its subsidiaries, VALIC Financial Advisors, Inc. (VFA) and VALIC Retirement Services Company (VRSCO).  All are members of American International Group, Inc. (AIG).