Mutual of Omaha Retirement Services Hiring Positions to Offer Dedicated Fiduciary Support for New ERISA 3(16) Solution for 401(k) Plans
OMAHA, Neb., September 16, 2014 – Mutual of Omaha Retirement Services is hiring in response to expected sales of 401(k) Admin AdvantageSM, an ERISA section 3(16) administrative support and fiduciary service option for Mutual of Omaha's 401(k) plans. Since its launch in June, approximately 50 percent of proposals and 401(k) sales have included the 401(k) Admin AdvantageSM option.
“The new service is resonating well with plan sponsors and we expect interest to grow,” said John Corrieri, Vice President of 401(k) at Mutual of Omaha. “So, we are growing our team to ensure dedicated support for plans selecting this new fiduciary service.”
While business owners find value in offering a 401(k) plan to their employees, they have very little desire to become a 401(k) expert. “They want to focus on running their business,” Corrieri said. “However, there are a number of specific compliance requirements that must be followed when offering a 401(k) plan, which makes it challenging for an employer serving as the ERISA section 3(16) plan administrator.”
“Mutual of Omaha has responded with a cost-effective solution,” he said. “With 401(k) Admin AdvantageSM, business owners not only save time and effort completing the required administrative duties, Mutual of Omaha also accepts the fiduciary liability for services rendered.”
Jobs will be based at the company headquarters in Omaha, Neb. and will service plans nationwide. Information on open positions can be found at here.
For more information about Mutual of Omaha Retirement Services’ 401(k) Admin AdvantageSM and other retirement products and services, visit www.sellretirementright.com. Group variable annuity contracts underwritten by United of Omaha Life Insurance Company in all states except New York. In New York, Companion Life Insurance Company, Lynbrook, N.Y., underwrites the group variable annuity. Each underwriting company is solely responsible for its own contractual and financial obligations.
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.