Aetna Selected as Exclusive Provider for District of Columbia's Defined Contribution Plan.HARTFORD, Conn.--(BUSINESS WIRE)--July 12, 1999-- Aetna Retirement Services announced today that Aetna Life Insurance and Annuity annuity: see insurance. annuity Payment made at a fixed interval. A common example is the payment received by retirees from their pension plan. There are two main classes of annuities: annuities certain and contingent annuities. Company will be the exclusive provider for the District of Columbia's 401(a) defined contribution plan Defined contribution plan A pension plan whose sponsor is responsible only for making specified contributions into the plan on behalf of qualifying participants. Related: Defined benefit plan . The plan - with total assets of $208 million as of May 31, 1999 - will provide retirement benefits to the District's 13,000 employees. Within the plan, Aetna will offer a range of retail mutual funds and institutional investment options, as well as a fixed interest rate option. Aetna will also provide administrative services. The primary feature of the plan is the Aetna Government Custom Choice product, which allows the District to tailor its investment and administrative services to the plan participants' specific needs. "There were a number of reasons why we chose Aetna as our exclusive plan provider," said Gerard Widdicombe, District of Columbia District of Columbia, federal district (2000 pop. 572,059, a 5.7% decrease in population since the 1990 census), 69 sq mi (179 sq km), on the east bank of the Potomac River, coextensive with the city of Washington, D.C. (the capital of the United States). project coordinator. "These include Aetna's ability to provide superior financial education to the District's diverse employee population, their local investment professionals, and inclusion in the plan of the Chapman Domestic Emerging Markets Fund, consisting of minority-owned companies." The District of Columbia account acquisition is the most recent in a string of defined contribution account wins for Aetna Retirement Services. "Our attention to providing custom solutions for plan sponsors and their plan participants Plan participants Employees or other beneficiaries who are eligible to receive benefits from a company's employee benefit plan. has become an increasingly important factor in attracting new accounts," said Thomas (language) Thomas - A language compatible with the language Dylan(TM). Thomas is NOT Dylan(TM). The first public release of a translator to Scheme by Matt Birkholz, Jim Miller, and Ron Weiss, written at Digital Equipment Corporation's Cambridge Research Laboratory runs J. McInerney, president of Aetna Retirement Services. " Being selected as the District of Columbia plan provider gives us another opportunity to deliver on our brand promise." Aetna Life Insurance and Annuity Company, a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of Aetna Retirement Services, Inc., provides a full range of products for a lifetime of financial needs. Securities are offered by Aetna Investment Services, Inc. Aetna Investment Services, Inc., and Aetna Retirement Services, Inc. are subsidiaries of Hartford, Connecticut-based Aetna Inc., one of the nation's largest stockholder-owned insurance and financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. companies. Visit our Web site at http://www.aetnafinancial.com |
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion