ST. PAUL, Minn.--(BUSINESS WIRE)--Small employers need qualified retirement plans to attract and retain employees, but often worry about managing the complexities that come with offering this heavily regulated workplace benefit.
Securian Financial Group’s new “ReadyPlan” is a stress-free, fiduciary-friendly way for small employers to provide retirement plans to their workers. ReadyPlan is easy to manage, offers a streamlined investment process and supports the ability of employees to save for a comfortable retirement. ReadyPlan includes:
- An ERISA 3(16) fiduciary service that transfers time-consuming administrative tasks to Securian1
- An ERISA 3(38) investment fiduciary service provided by third party investment experts that take on the responsibility for managing the plan’s investments2
- High-touch customer service from long-tenured Securian retirement plan specialists
- A relevant and targeted employee experience, from enrollment through retirement
“ReadyPlan incorporates the key features of an effective plan while transferring the majority of the work to retirement specialists—making it easy for employers to stay focused on running their business,” said Rick Ayers, Securian’s retirement plans division vice president. “For advisors, whether you have multiple plans or are new to the business, ReadyPlan’s simplicity means reduced time commitment and the potential for increased operational efficiency,” added Steve Chappell, Securian’s vice president of retirement plan sales.
While ReadyPlan is designed for small employers, Securian’s new ERISA 3(16) fiduciary service is available to employers of all sizes utilizing any of Securian’s retirement plan products, including defined benefit plans.
“Our ERISA 3(16) fiduciary service lets employers transfer time-consuming administrative tasks to Securian and mitigate fiduciary risk in the process,” said Ayers. “It’s a valuable program that can benefit employers of all sizes.”
About Securian’s Retirement Plans Division
Securian’s Retirement Plans division has been helping people save for retirement since 1930. Its platform features long-tenured retirement specialists, fiduciary-friendly fee levelization practices and extensive administrative outsourcing, most of which is offered at no additional cost. Securian provides services to employer-sponsored retirement plans through group annuity products issued by Minnesota Life Insurance Company.
About Securian Financial Group
Since 1880, Securian Financial Group and its affiliates have provided financial security for individuals and businesses in the form of insurance, investments and retirement plans. Now one of the nation’s largest financial services providers, Securian is the holding company parent of a group of companies that offer a broad range of financial services.
1. Securian is not acting as a 3(21) fiduciary and is not responsible
for investment fund selection.
2. Services provided by Wilshire Associates.