Houston Police Union Initiates Retirement Plan With OneAmerica

INDIANAPOLIS, Indiana, Aug. 16 -- OneAmerica Financial Partners, a provider of insurance and financial services, issued the following news release:

The Houston Police Officers Union (HPOU), one of the five largest law enforcement agencies in the U.S., has selected American United Life Insurance Company(R) (AUL), a OneAmerica(R) company, as its retirement plan provider. The HPOU 457 Deferred Compensation Plan has more than $165 million in combined assets with an enrollment of around 1,600 officers and growing.

While the city of Houston, Texas offers retirement benefits to officers, the police officers' union negotiated to have a separate plan option, which is one of the largest 457(b) plans maintained by OneAmerica. The Public Safety Financial Group (PSFG) is serving as financial adviser to the plan.

"OneAmerica has a reputation for emphasizing financial wellness and retirement strategies and we wanted to bring that to the forefront for the brave men and women of the Houston Police Department," said Joseph Gamaldi, union president. "The Houston Police Officers Union, whose motto is "Strength in Unity," and the Public Safety Financial Group are equally dedicated to helping protect the retirement goals of those who protect our community."

The advantages of OneAmerica include a wide array of investments options, a fixed rate ahead of most competitors, a flexible platform, customized investment and a suite of communication tools to teach participants how to save for retirement, noted Brian Craft, the PSFG adviser affiliated with the HPOU plan.

"Our goal is to allow officers to focus on their critical job of public safety," said Craft. "Police work is stressful and demanding, but having the knowledge that their retirement plan is optimized for their end-of-career success is one less worry for them to have to concern themselves with."

The Houston presence of OneAmerica also was a major factor in the union's selection for their new plan. Rod Silva, who will serve as relationship director, has proximity to the client, which will allow OneAmerica to provide enhanced customized service.

"We strive to provide a client experience that allows for innovative, proactive retirement preparation and execution," said Marsha Whitehead, vice president of marketing for retirement services for OneAmerica. "With our comprehensive education program, customized communications and account management services, we are able to enhance their retirement plan and help their employees pursue their respective retirement goals."