Never miss a story — sign up for PLANSPONSOR newsletters to keep up on the latest retirement plan benefits news.
Products October 22, 2008
Mutual of Omaha Adds Managed Account Feature
October 22, 2008 (PLANSPONSOR.com) - Mutual of Omaha
is offering employers a 401(k) managed account feature
through an arrangement with PMFM Inc.
Reported by Fred Schneyer
A news release said the new Manage It For Me feature from 401k Toolbox provides expert advice and active portfolio management to participants.
Participants receive a personalized retirement strategy through professional account management, including customized portfolio selection and ongoing monitoring, the announcement said.
PMFM uses an analytical model designed to lower
downside volatility and provide safety to its clients by
actively allocating and concentrating investments in more
economically sound sectors, the news release said.
“Recent developments in the stock market are
placing a premium on sound investment advice and
employers are looking for solutions that help employees
protect their retirement savings,” said David
Ahrendt, senior vice president of Retirement Plans at
Mutual of Omaha, in the news release. “Our new 401k
Toolbox option allows plan sponsors to offer their
participants the option of receiving personalized
investment advice and ongoing monitoring from a
registered investment advisor.”
The new feature also meets the criteria of being a
qualified default investment alternative (QDIA) as
outlined by the U.S. Department of Labor.
More information is at www.getretirementright.com .