A consortium is a group of K-12 school districts that have come together to create a model focused on improving retirement outcomes for K-12 employees
The consortium provides a total employee experience that emphasizes financial education, low-cost transparent fees and diligently evaluated and monitored investment options
Allows small to medium-size school boards to achieve economies of scale that normally are not available to them
Cooperative Purchasing Agency (CPA) is the sponsoring and administrator
CPA operates under the fiscal control of Pioneer RESA
CPA was founded in 1971 and is a nonprofit organization dedicated to serving school systems only and is owned and managed by the member school systems
SERC was created for educators by educators to provide a simplified solution for 403(b), 457(b) and 401(a) programs for K-12 employees
SERC believes that educating participants about retirement needs and investment choices and being fully transparent about fees provides the best opportunity to help grow retirement savings
Improved plan governance
Plan simplification and design flexibility
Professional plan management Professional oversight of investment options
Improved transparency Potentially lower fees and expenses
As a member, you have a voice in the governance of SERC
Saves employers time and money while ensuring compliance with state and federal regulations
Dec 9, 2022
Kevin Benson, executive director of the Southern Education Retirement Consortium, believes he has the solution for small and mid-size school districts looking to offer quality 403(b), 457(b) and 401(a) plans.
The Southern Education Retirement Consortium (SERC) is made up of board members from systems who adopt SERC, and an Executive Director.
SERC has selected Eric H. Hansen of Hartmann Astor Investment Consulting (LPL) to serve as the 3(21) co-fiduciary to the sponsor the plans
Mr. Hansen will support the SERC investment committee by providing fiduciary training and guidance, investment manager search and selection, and ongoing monitoring of mutual funds offered in the plan(s)
Mr. Hansen and his clients were recognized in 2021 with the "Plan Sponsor of the year" award
corebridge Financial has been selected to provide recordkeeping, compliance and education for SERC
corebridge (formerly AIG) implemented the first ever 403(b) plan (Dade County Schools)
corebridge has been committed to the K-12 community for over 60 years and is a market leader
The plans will consist of standard provisions while offering the plan design flexibility to meet each participating school system's unique needs
Comprehensive multi-channel education services to blend digital, print, and on-site resources
Please contact us if you cannot find an answer to your question.
SERC "knits" together small and medium size school districts to create unprecedented scale
for pricing, oversight, and control in the 403b and 457 markets.
SERC plans include:
403(b), 457 (b) and 401(a)
Traditional, pretax and/or Roth contributions
Auto Enroll/Auto Increase option
Social Security Opt-Out Plans
Matching Employer Contribution Plans
Basic Employer Contribution Plans
Voluntary Contribution-Only Plans
Any public educational organization regardless of location can seek affiliation
It’s as easy as 1, 2, 3...
1.Sign the SERC participation agreement
2.Select your plan provisions
3.Restate your current plan documents onto the SERC Plan Documents
·Participating employers are always in control of their plan(s) ·Our dedicated team will help you implement the plan(s) – typically 90 days ·As a member, you’ll have a voice in the governance of the plan(s)
It is never too early to invest in your future!
Monday - Friday: 8am - 5pm