SC Deferred Compensation Program Transitions to Great-West January 1.
Date Posted: November 23, 2009
View the entire South Carolina Deferred Compensation Program Transition Bulletin in PDF format here.
We are pleased to announce that effective January 1, 2010, Great-West Retirement Services® (Great-West) will replace ING as the provider of services for the South Carolina Deferred Compensation Program (SCDCP or Program).
Great-West has more than 20 years of experience in record keeping for the SCDCP. This exciting change will benefit you in many ways, including:
- Reduced participant fees.
- An enhanced education and communication program that continues to include a local Program representative.
- Enhanced investment option lineup including continued access to the same investment options as you have today.
- Flexible account management tools that will be available 24/7, through both the Web site at www.southcarolinadcp.com and an automated voice response system, KeyTalk®, at (877) 457-6263.1
- Investment help that is just a click or phone call away with the new suite of Reality Investing® Advisory Services (Advisory Services) offered by the Program.
And that’s just the beginning. To learn more, see pages 2 through 6 or visit the Web site at www.southcarolinadcp.com.
This transition will not change your account value—and you don’t have to do anything during the transition process. There will be a period, however, when you won’t have access to your account. This period, called a “blackout period,” will occur from approximately December 30, 2009, to January 11, 2010. During this time, your account will be moved from ING to Great-West, and it will be processed and verified for accuracy. See the “Important Notice Concerning Your Rights Under the South Carolina Deferred Compensation Program” on page 6 for more details.
We are committed to making this transition as simple and seamless as possible, and we think you’ll be pleased with the resulting improvements in the SCDCP. We’re looking forward to transitioning to a new provider for your retirement needs.
South Carolina Deferred Compensation Commission