Mutual of Omaha Offers 401k Toolbox® to Help Protect Investors – 401(k) Feature Allows Plan Participants to Receive Expert Advice
Omaha, Neb. – (October 22, 2008) Mutual of Omaha is now offering employers a 401(k) plan feature designed to help protect their employees’ retirement savings during volatile periods in the stock market by providing expert advice and active portfolio management.
Through an arrangement with PMFM, Inc., Mutual of Omaha is giving plan sponsors an option to elect the new Manage It For Me® feature from 401k Toolbox®, which provides plan participants the opportunity to receive a personalized retirement strategy through professional account management, including customized portfolio selection and ongoing monitoring. The new feature is designed to help make retirement investing safer and easier for participants, helping them achieve their retirement goals.
”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. “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.”
By electing the 401k Toolbox option provided by PMFM, plan participants take advantage of a feature that actively invests and manages their contributions based on their unique needs and preferences, as well as current market conditions. PMFM uses a sophisticated 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 new 401k Toolbox feature also meets the criteria of a Qualified Default Investment Alternative (QDIA) as outlined by the U.S. Department of Labor. Under the regulations, a QDIA is defined as a default investment option that provides plan sponsors with fiduciary protection under ERISA section 404(c)(5). Regardless of whether a plan sponsor selects 401k Toolbox as the default investment option or just one of several investment options for its participants, the sponsor benefits from added fiduciary protection.
For more information about Mutual of Omaha’s new 401k Toolbox solution, visit www.getretirementright.com.
Mutual of Omaha is a full-service, multi-line organization providing insurance and financial products for individuals, businesses and groups throughout the United States.
PMFM, Inc. is a Registered Investment Advisor managing investors’ “serious money,” including retirement plan assets, since 1991. 401k Toolbox® is their award-winning managed account service for qualified plans. You can visit them at www.401ktoolbox.com.
