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Products December 14, 2009
Symetra Offers New Group Variable Annuity for 403(b)/457 Plans
December 14, 2009 (PLANSPONSOR.com) - Symetra Life Insurance Company has launched Retirement Passport Group Variable Annuity for the 403(b)/457 market.
Reported by Rebecca Moore
A press release said Retirement Passport was designed with schools and non-profits in mind. The tax-deferred solution offers an array of professionally managed portfolio options from firms including American Funds, Fidelity, and Vanguard.
The product also gives participants access to funds that
invest exclusively in socially and environmentally responsible companies,
according to the announcement. Passport’s initial fund lineup includes 60
portfolio options from 13 money managers.
The product features contribution minimums as low as $30;
free annual withdrawals up to 10% of the participant account value per
certificate year; and multiple retirement income options.