VACo Risk Management Programs
VACo Risk Management Programs is the number one provider to counties and county related agencies for all types of insurance coverages. VACoRP and VACoGSIA are member-owned programs governed by seven member supervisory boards elected from the general membership. The primary objective is to provide rates in a manner that is equitable for all members. Participation is limited to counties, county school systems and county related agencies. The Virginia Association of Counties Self-Insurance Risk Pool (VACoRP) was created to provide property and liability insurance and risk management services. The Virginia Association of Counties Group Self-Insurance Association (VACoGSIA) was created to provide workers compensation and risk management services. www.vacoins.org Contact: Chris Carey, chris@vacoins.org.
U.S. Communities: Government Purchasing Alliance
The Virginia Association of Counties along with the Association of School Business Officials International (ASBO), the National Association of Counties (NACO), the National Institute of Governmental Purchasing (NIGP), the National League of Cities (NLC), and the United States Conference of Mayors (USCM) sponsors the U.S. Communities Government Purchasing Alliance.
The U.S. Communities program provides all local agencies in the U.S. with publicly competitively bid contracts for various products and services. Most local agencies may piggyback on a contract competitively solicited by another public agency, thereby eliminating the need to re-solicit. Through the buying power of large purchasers in the U.S. Communities program all local government agencies receive access to excellent pricing and contract terms.
For more information, visit www.uscommunities.org or send an e-mail to info@uscommunities.org.
VML/VACo Finance
In partnership with the Virginia Municipal League, VACo offers local governments three flexible, easy-to-use, and low-cost programs through VML/VACo Finance. Capital projects and equipment may be financed through the Direct Loan Program, for long-term, fixed-rate financing; or the Commercial Paper Program, for variable-rate rate financing of any duration. Through pooled financing and sharing of costs, VML/VACo Finance routinely achieves the lowest costs of financing available in the market. Additionally, the VACo/VML Pooled OPEB Trust enables local governments to fund health insurance and other retirement liabilities in a pooled, professionally-managed trust fund.
Our three programs are designed to benefit a wide range of localities, including counties of all sizes and credit strengths. Within the first five years of its founding, VML/VACo Finance has made over $600 million in loans to Virginia localities. The VACo/VML Pooled OPEB Trust is managing assets of approximately $100 million within its first year of operation.
For more information, contact Steve Mulroy at (804) 648-0635 or info@valocalfinance.org. Visit our Web site at www.valocalfinance.org.
Nationwide Retirement Solutions
Nationwide Retirement Solutions is a pioneer in the industry as it played a vital role in the creation of IRC Section 457 three decades ago, and today is considered a market leader in providing public sector deferred compensation services. In addition, they are celebrating their 25th year of partnership with the National Association of Counties (NACo). Known in the industry as The Education Company, Nationwide specializes in educating employees on retirement and the benefits of deferred compensation. The focus on education extends to the plan sponsor as they offer a comprehensive education program that includes quarterly legislative updates, a legal staff dedicated to assisting public sector entities, and a plan sponsor handbook defining the responsibilities of a fiduciary.
Plan Highlights
-Unique retirement education
-Broad range of investment options from numerous investment managers
-Professionally managed asset allocation funds available for various investor types
-Competitive fixed interest rate
-Award-winning Web site with retirement planning tools at www.nrsforu.com
-Morningstar ClearFuture® investment guidance and education tool
-Access to more than 50 NASD Series 6 and 63, Life, Health and Variable Annuity licensed “Reps-on Call” via toll-free phone lines during extended business hours (8am – 9pm EST)
-Retirement planning specialists available to assist in developing distribution strategies
-Local retirement specialists who are Registered Representatives of Nationwide Investment Services Corporation, member NASD.
Please contact Linda Barber at (614) 854-8895 or at barberl@nationwide.com, if you have any questions.
The unregistered group variable annuity (TSP-556) and group fixed annuity (TSP-557) are issued by Nationwide Life Insurance Company, Columbus, OH.
American Legal Publishing Corporation
American Legal Publishing specializes in providing high-quality, innovative codification services. We offer: codification/recodification of ordinances; supplementation; legal review/analysis of ordinances; Folio Views search-and-retrieval software; Internet hosting services; and document imaging services. Our clients include Baltimore County, Northampton County, San Diego County, and over 1,800 other local governments across the country. We also work in partnership with VACO to publish the Virginia Basic Code, a low-cost, model code of ordinances (based on state law) for smaller Virginia counties. For more information, please contact: Richard Frommeyer, Codification Consultant, 800-445-5588, rfrommey@amlegal.com or visit www.amlegal.com.
GovDeals
GovDeals is a state-of-the-art auction service that allows VACo members to conduct on-line transactions of surplus, abandoned and confiscated equipment and property via the Internet. Not only can VACo members list their items for sale immediately as they are declared surplus, but they are instantly exposed to a large group of registered buyers interested in government surplus. Sellers pay a fee to GovDeals of 7.5 percent of the final sales price. GovDeals will present sellers -- at the end of each month -- with an itemized invoice of all items sold, the final sales price and its commission per item. www.govdeals.com
Comvest ltd. inc.
Comvest's lease-purchase programs enable public entities to cope with shrinking revenues and tax base. Instead of putting off major equipment purchases. Comvest works with governmental representatives to take advantage of good market opportunities and the lowest rates available.
By entering into a lease-purchase agreement, public entities can obtain ownership without debt obligation. Lease-purchase agreements stipulate that payments from governmental agencies are subject to annual appropriations. Payments are regarded as a current obligation, not a debt, and require only the approval of the governing body rather than a public referendum.
Payment terms are structured to meet budget constraints. Terms range from twelve months to ten years, depending on the type of equipment and its useful life.
Our lease-purchase agreement was developed as a financing alternative to cash purchases and the outright issuance of long-term municipal bonds. The use of municipal leasing by state and local finance officers has increased substantially over the last several years because of the flexibility of the lease-purchase as a financing instrument, and the ability to spread the cost of the equipment of capital asset acquisition over a period of time. Comvest Ltd., Inc. 415 Tyler Place, Alexandria, VA 22302, 1-800-648-4216 comvest@comvestltd.com
