INVESCO Retirement has been selected to run the defined contribution retirement plan for AGL Resources. The conversion to INVESCO is expected to be completed by October 2001, according to the companies.
AGLs plan covers more than 2,200 participants and has more than $129 million in assets. Once INVESCO takes over as the plan provider, plan participants will be able to select from five INVESCO and AIM Management Group funds and four additional outside funds, as well as AGL company stock.
One of the reasons INVESCO was chosen was that the company has the flexibility to offer both AIM and INVESCO funds, according to Tom Atwood, director of benefits for AGL.