News Release

Mutual of Omaha Adds New Funds to its 401(k) Product Offering Vanguard Target Retirement Funds among the funds added to the investment lineup.

OMAHA, Neb., May 5, 2011 – Mutual of Omaha’s Retirement Plans Division is expanding its investment lineup by adding 20 new, nonproprietary funds from 11 different investment managers, including time-based retirement funds from Vanguard® Target Retirement Funds.

The additions are part of Mutual of Omaha’s quarterly objective and unbiased investment review using Callan Associates as its investment consultant. With the addition of the Vanguard Target Retirement funds, Mutual of Omaha now offers three Qualified Default Investment Alternatives (QDIA) to plan sponsors with differing approaches and significant flexibility for both advisors and plan sponsors.

In addition to Vanguard® Target Retirement Funds, other new funds include: Templeton Global Total Return Fund; Goldman Sachs Small Cap Value Fund; John Hancock Disciplined Value Mid-Cap Fund; Lord Abbett Value Opportunities Fund; MFS Value Fund; Waddell & Reed New Concepts Fund; Dodge & Cox International Stock Fund; Franklin International Small Cap Growth Fund; Nuveen Tradewinds Global All-Cap Fund; Wells Fargo Advantage Emerging Markets Equity Fund; and Stadion Tactical Fund.

“The Vanguard Target Retirement funds are complementary to our current target date offering, the Mutual GlidePath series of funds,” said Tim Bormann, 401(k) product-line director for Mutual of Omaha. “Mutual’s GlidePath funds are characterized by a multi-manager approach, using a combination of actively and passively managed investments, while Vanguard Target Retirement Funds are comprised of Vanguard's passively managed index funds.”

“Target-date funds have rapidly become the foundation of retirement portfolios for many 401(k) plan participants, providing a balanced, well-diversified and low-cost investment program in a single vehicle,” said Gregory Barton, managing director of Vanguard’s Institutional Investor Group. “An index-oriented design and straightforward glidepath make Vanguard Target Retirement Funds a sound choice for plan sponsors and participants alike.”

Mutual of Omaha is a full-service, multi-line organization providing insurance, banking and financial products for individuals, businesses and groups throughout the United States.