The Cooperating School Districts of Greater St. Louis Inc., a non-profit consortium of public school districts, hired VALIC to provide bundled services for its new 403(b) and 457(b) plans, confirmed Stephen Keyser, deputy executive director and chief financial officer for the consortium. The new plans took effect Jan. 1.
In an interview, Mr. Keyser said the combined assets of both plans should be in the range of $12 million to $15 million by the end of the year. The consortium has 65 member school districts in the St. Louis metropolitan area, and 17 have joined the new plans, he said. The assets represent new money contributed to the consortium’s plans and assets rolled over from participants’ plans with the 17 school districts.
He said participants in each of the plans will have a choice of 34 investment options, which are the same for each plan.
The consortium is a voluntary educational services agency, which provides, among other things, a purchasing co-op for school supplies, such as furniture but excluding textbooks, and an online service that allows local districts to post information about employment opportunities.