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401(a) Plan FAQ

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Expand/Contract Questions and Answers

  • Who do I talk to if I have questions or concerns about my account?

  • I see Financial Seminars being offered. Is participation at the seminars available to everyone?

  • Does VALIC offer financial planning assistance?

  • Do I need to do anything on a regular basis with my account?

  • What if I want to make changes to my investments?

  • How are the contributions invested in the DC Plan accounts?

  • Do I have access to any of the money in the DC Plan while I am still employed at the City?

  • What if I want to save more for retirement?

  • When will I be fully vested in the employer account?

  • Why will I have two retirement accounts?

  • What does the City contribute to the DC Plan and how much do I contribute?

  • How does the new pension plan differ from the Defined Benefit (DB) Plan?

  • When did the new pension plan go into effect?