Mutual of Omaha and Mesirow Financial Create a New Solution to Help Retirement Plan Sponsors Minimize Fiduciary Risk
Omaha, Neb. – (September 19, 2007) Employers who offer their workers a retirement plan now have a new option for fiduciary support at the plan level. An innovative arrangement between Mutual of Omaha and Mesirow Financial will provide plan sponsors cost effective access to fiduciary services, including investment guidance and monitoring, to help those sponsors minimize their fiduciary risk exposure.
When a plan sponsor who utilizes Mutual of Omaha’s product selects the new plan-level fiduciary feature, Mesirow Financial will help the sponsor choose investment options from a list of available funds, as well as monitor those investments on an ongoing, quarterly basis. By doing so, Mesirow Financial will be providing co-fiduciary services, helping reduce the plan sponsor’s fiduciary risk for fund selection and monitoring.
The innovative plan-level fiduciary feature will allow Mutual of Omaha to offer its plan sponsors an umbrella of fiduciary support on three levels:
- Product-level support from Mutual of Omaha’s Investment Manager Oversight Committee and the consulting services of Callan Associates, Inc.
- Plan-level support from the individual plan appointment of investment managers and the addition of the Mesirow Financial program
- Participant-level support from individually managed account options
“In light of the increasing fiduciary obligations that today’s plan sponsors face, we are pleased to offer another level of support through our arrangement with Mesirow Financial,” said Bud Wright, senior vice president of retirement plans at Mutual of Omaha. “This new feature will complement the umbrella of fiduciary support our plan sponsors already receive, giving them added peace of mind.”
“Through our role in the Mutual of Omaha retirement program, plan sponsors will have access to our professional analysis, expert fund selection and extensive research tools,” said James C. Tyree, chief executive officer of Mesirow Financial. “This agreement underscores our long-term commitment to providing high-quality investment research services to help employers select the best possible investments that will benefit their workforce.”
Mutual of Omaha is a full-service, multi-line provider of insurance and financial services products for individuals, businesses and groups throughout the United States. Founded in 1909, Mutual of Omaha and its affiliate companies are ranked among the Fortune 500.
Mesirow Financial is an independent, employee-owned diversified financial services firm headquartered in Chicago. Mesirow Financial has been assisting individuals, corporations, public sector entities and investing institutions throughout the United States meet their financial needs since 1937. The Mesirow Financial services described above are provided by the Investment Strategies division of Mesirow Financial Investment Management, Inc, an SEC Registered Investment Adviser.
