ICMA Retirement Corporation Selected By Police Organization To Provide Retirement Health Savings Plan

WASHINGTON, Oct. 14 /PRNewswire/ -- The ICMA Retirement Corporation has been selected by the National Fraternal Order of Police as its preferred provider for a Retirement Health Savings plan for its 318,000 state and local public safety members.

As the preferred provider, ICMA-RC will actively promote the adoption of its VantageCare Retirement Health Savings plan in communities throughout the nation for the benefit of the membership of the nation's 2,133 FOP lodges. The FOP is world's largest organization of sworn law enforcement officers.

"We are pleased that the National Fraternal Order of Police has chosen our VantageCare product as its preferred retirement health savings plan," said Joan McCallen, President and Chief Executive Officer of ICMA-RC. "This will be a great savings benefit for the public safety profession, who do so much to keep our nation secure."

Chuck Canterbury, President of the National FOP, said the FOP's Board chose ICMA-RC's VantageCare after a thorough evaluation of all available products on the market. "ICMA-RC has been at the forefront in addressing the retirement needs of public employees and in particular public safety employees," he said. "VantageCare Retiree Health Savings meets a very specific need in retirement for public safety workers. The National Fraternal Order of Police partnership with ICMA-RC will help FOP members build their retirement security by addressing their health care concerns."

Kelly Bush, ICMA-RC's National Director for Public Safety Relations, and a former public safety officer, will oversee ICMA-RC's relationship with the National FOP.

With VantageCare, FOP members may choose to deduct a set percentage from their pay before taxes, and contribute their accrued leave at the time they leave service. They also will be able to select how they want their contributions invested among 19 Vantagepoint Mutual Funds.

Once they are eligible to receive benefits from their VantageCare account, members can be reimbursed tax-free for any qualifying medical expense. When the member dies, the surviving spouse and dependents are automatically eligible to use the account for medical expenses, also on a tax-free basis.

ICMA-RC will work with public employers to make the plan available to their FOP members and will educate FOP members on how to take advantage of this new benefit. ICMA-RC will also supervise the administration of the benefit through personal service and dedicated phone representatives.

About ICMA-RC

ICMA Retirement Corporation (ICMA-RC) is a not-for-profit, leading provider of retirement investment services for public sector employees. Founded in 1972, the corporation today administers $20 billion in retirement plan assets for more than 630,000 public sector participants. Based in Washington, DC, with 529 employees, ICMA-RC maintains field offices across the United States staffed by 266 NASD-registered professionals.

About the Fraternal Order of Police

The Fraternal Order of Police is the world's largest organization of sworn law enforcement officers, with more than 318,000 members in more than 2,100 lodges. It is the voice of those who dedicate their lives to protecting and serving our communities and is committed to improving the working conditions of law enforcement officers and the safety of those they serve through education, legislation, information, community involvement, and employee representation.

About VantageCare

VantageCare is the most flexible and easy-to-administer program for accumulating assets to pay for health care expenses during retirement on a tax-free basis. Participant assets are invested in the plan until they are used to reimburse eligible medical expenses. The investment options available to VantageCare participants are ICMA-RC's Vantagepoint Funds, a family of 19 actively managed, index and model portfolio mutual funds designed for long- term investing.

ICMA Retirement Corporation

CONTACT: Amy Levy, +1-301-656-6212, +1-202-686-3902, or amy@levypr.com,for ICMA Retirement Corporation

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