Products April 17, 2008

Mercer Launches Retirement Savings Education Program

Mercer has recently introduced an online retirement savings educational program to employees whose 401(k) plans it administers and the general public.
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According to the company, “Count on your retirement” incorporates retirement calculators and enables users to customize their experience by selecting a savings effort level: 1 – Effortless, 2 – Easy, or 3 – Still really simple. Users are then presented with a variety of savings tips, retirement planning calculators, and information about automatic 401(k) plan features – such as contribution rate increase and rebalancing tools – that may be available to them.

Mercer said the program will help it address key findings from its recent 2007 Mercer Workplace Survey. For the first time since 2004, respondents to the Mercer survey said they are more worried about keeping up with monthly expenses than saving for retirement.

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Mercer found the need to focus on near-term finances is affecting the retirement confidence of respondents. When asked what they would do differently in the past year of their retirement savings and investing life, almost half (48%) said they wished they had saved more pay in their 401(k).

The program is located at www.CountonYourRetirement.com.

Deals & People April 17, 2008

Mutual of Omaha to Ramp up Retirement Plan Unit

Mutual of Omaha has revealed plans to double the workforce at its recently acquired Retirement Marketing Solutions (RMS) subsidiary and to open an Omaha office for the new unit.
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A Mutual of Omaha news release said RMS will focus on generating sales for Mutual’s 401(k) product line through five distribution channels: third-party administrators, wirehouses, banks, independent financial planners, and Mutual of Omaha agents.

In addition, expansion of internal wholesaler capabilities is under way, with new positions anticipated in both the Omaha and Dublin, Ohio RMS offices, said RMS President and CEO Chuck Lombardo.

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Based in Dublin, RMS is an independent wholesaler specializing in marketing retirement products in the 401(k), 403(b), 457 and individual rollover markets. Its five-person staff contracts with approximately 50 wholesalers throughout the United States. It also will distribute group annuity products through brokers and Mutual agents.

To align all retirement plan sales resources within one team, nine new positions will be created at RMS. The positions will be filled by current Mutual of Omaha associates with most housed at the firm’s Omaha office, which will open in July, said Dave Ahrendt, Senior Vice President-Retirement Plans.

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