The Employees Retirement System of Texas (ERS) has chosen Minnesota Life Insurance Company to provide term life insurance to its participants beginning 1 January 2012.
The plan covers approximately 301,000 employees and retirees and 120,000 dependents.
ERS executive director Ann Fuelberg said Minnesota Life demonstrated that they have the experience and capability to administer a plan of their size. They are very pleased with their willingness to open an office in Austin to provide local service to their participants.
Minnesota Life also insures state employees in Arkansas, Colorado, Delaware, Florida, Georgia, Illinois, Kansas, Michigan, Minnesota, Mississippi, Vermont, Virginia, West Virginia, Wisconsin and Wyoming.
Minnesota Life, a subsidiary of Securian Financial Group, has provided group life coverage for more than 90 years and has over $682bn of group life in force, in the US.