Designed for qualified 401(a) pension and profit-sharing plans, including 401(k) plans, this Variable Rate GIC offers a fixed term of investment, competitive short-term interest rates, and the liquidity to pay plan benefits.
The plan sponsor selects a contract term of three to seven years.The interest rate, adjusted each month or quarter, is based on the London Interbank Offered Rate (LIBOR), plus or minus a basis point spread determined at the time of purchase.The contractholder can make withdrawals for plan benefit payments such as retirement, disability or termination of employment.The contract also offers a single sum payback at termination.
Early Termination Option
The contractholder or United of Omaha Life Insurance Company may discontinue the contract for any reason at the end of an interest earning period, with 30 days' written notice.
How to Submit Business
Quotations may be submitted by calling 1-800-843-2455, or by faxing a quotation request form to (402) 351-2176, Attn: Institutional Investment Sales. United of Omaha will provide individual quotes within 24 hours of a request.
For information on our complete line of group retirement products, please contact one of our other regional Retirement Plans Sales Managers.