Jim Carroll has been promoted to vice president for 457 distribution from regional vice president and will head a new team focused on the 457(b) market. He will assist agents in identifying opportunities to grow 457(b) awareness and presence. Carroll will continue to be based at National Life Group’s Addison, Texas, offices and will run the 457(b) initiative nationally.
The new initiative will leverage the firm’s experience to serve more people. “Expanding our presence in the 457(b) market is a natural progression for us,” says CEO Mehran Assadi. “We already provide retirement solutions for thousands of school districts and their employees through our 403(b) offerings and will be able to provide valuable services and solutions to even more people with our expanded presence in the 457(b) market.”
Life Insurance Company of the Southwest, a member company of National Life Group, provides tax-deferred retirement products within 403(b) and 457(b) supplemental retirement plans. These products deliver choice and flexibility to plan participants, through features allowing flexible contributions, retention and control of accumulated funds, and the ability to withdraw funds for unexpected life events without incurring Internal Revenue Service (IRS) tax penalties (when permitted by the plan).
“Our long history within the supplemental retirement industry allows us to form positive relationships with third-party plan administrators,” says Louis Puglisi, vice president of protection and retirement distribution. “When we work with entities that are struggling with self-administration, we can facilitate the introduction of a TPA that can significantly reduce the time, effort and cost associated with plan administration.”
The companies of National Life Group provide 403(b) and 457 tax-deferred retirement plans, primarily in the K-12 school marketplace.