Florida State Board of Administration, Tallahassee, today approved VALIC as the fifth bundled provider for its new statewide defined contribution plan. Aetna, Fidelity, Prudential and Nationwide already had been approved.
The board opted not to add a self-directed brokerage account when the plan rolls out on July 1, said Coleman Stipanovich, deputy executive director. Instead, it plans to consider adding a self-directed brokerage account sometime next year, most likely after a formal RFP has been issued, he said.
