A Mutual of Omaha news release said it is partnering with 401k Toolbox, by PMFM, for its managed account option. The offering provides a variety of investment portfolios that can be selected automatically based on age or individually based on an individual’s investment preferences.
Mutual of Omaha also is offering Mutual GlidePath portfolios as a default investment. Consisting of a series of nine target-date funds, the Mutual GlidePath portfolios provide participants with an investment strategy based on projected retirement dates.
Both offerings are designed to satisfy the qualified default investment alternative (QDIA) regulations.
“We understand the challenges that today’s plan sponsors face when selecting default investments on behalf of their participants. While they clearly want to do what is best for their employees, they must also consider their fiduciary obligations,” said David Ahrendt, vice president of Retirement Services at Mutual of Omaha, in the announcement.
More information is at www.getretirementright.com.