Securian Retirement Services Earns Top Ratings in PLANSPONSOR Survey.
ST. PAUL, Minn.--(BUSINESS WIRE)--Nov. 19, 2002
Securian Retirement Services, a business unit of Minnesota Life, earned top rankings from employers surveyed conducted by PLANSPONSOR magazine in July 2002. All Securian clients who participated in the survey said they would recommend Securian as a retirement plan provider.
"We know our clients and potential clients want the best, most cost-effective plan they can provide for their employees," said Bruce Shay, vice president, Securian Retirement Services. "We strive to anticipate their needs by listening to clients and plan participants as well as creating improvements without being asked."
In the PLANSPONSOR survey, Securian Retirement Services received three "top rated" rankings for internet services for sponsors, account rep expertise, and loan and withdrawal turnaround and six "commended" rankings in participant education, internet services for participants, range of investment options, sponsor reporting, compliance, and responsiveness. Securian also was ranked second in the micro category (plans with up to $5 million in assets).
In response to a survey question, one employer said, "this is my third provider since I have been at the company, and they will be my last." Another, citing responsiveness to employer needs, said, "They have been more than patient and informative to me and my staff."
Securian has instituted a number of programs and services to make retirement plan management easier for plan sponsors and participants:
-- revised plan statements with colorful, readable graphics that give plan sponsors and participants the information they need and want in a format that is easy to decipher; -- expanded its due diligence program that helps employers fulfill their fiduciary responsibilities for monitoring the investment options offered in their qualified retirement plans. -- boosted the number of investment options to 56; -- created ExpressPlan, which simplifies the process of setting up and operating a 401(k) plan while providing a high-quality employee benefit; -- added DataGather, a program developed by Securian to make plan data transferal quicker and easier, enabling faster investment of participant dollars. -- created one of the first self-service sites for participants and sponsors of defined benefit pension plans; and -- created securianresource.com, a site for benefits brokers that helps them design proposals, tailor plans to specific client needs, and keep current on industry developments.
"Our goal is to provide our clients and their employers with everything they need to take full advantage of all the benefits of a pension plan," said Shay. "If we make it easy for them to use their plans, they will make tremendous financial gains."
Securian Retirement Services is a unit of Minnesota Life Insurance Company, St. Paul, Minnesota. Securian manages more than $5.5 billion in assets for 2,700 pension plans and nearly 200,000 participants nationwide. Securian Retirement Services consistently receives superior service ratings in independent surveys of plan sponsors and was one of the first retirement plan providers to offer transactional services on line at www.accuserveonline.com.
NOTE: A photo of Bruce Shay is available electronically as a 300 dpi TIF document; request it by contacting firstname.lastname@example.org, 651-665-7558.
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|Date:||Nov 19, 2002|
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