Security Benefit Offers 403(b) Compliance Deadline Guarantee

Security Benefit will pledge compliance with 403(b) regulations by the January 1, 2009, deadline to any school whose contract is received by November 14, 2008, through its 403(b) PlanSolutions Quick Start.

Security Benefit announced that Quick Start is designed for schools and districts that are not prepared for the new regulations, and if a school or district using the program is not prepared by the deadline, Security Benefit will return the implementation fees.

403(b) PlanSolutions provides 403(b) plan sponsors with the tools necessary to comply with the regulations, including:

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  • Installation services that provide a fully compliant 403(b) plan document and supporting notices to employees;
  • Common remitter services to process and remit contributions to approved 403(b) providers; and
  • Proactive compliance monitoring of all approved providers that includes transfers, contributions, catch-up limits, hardships, loans, and distribution monitoring.

More information can be found at www.securitybenefit.com.

SGI Adds Two Value Funds

Security Global Investors (SGI) announced the availability of its Small Cap Value (Ticker: SSUAX) and All Cap Value (SESAX) mutual funds.

According to the company, the new funds round out the firm’s current value offerings, which include Mid Cap Value (SEVAX) and Large Cap Value (SECIX). The Small Cap Value fund launched in July and the All Cap Value fund launched October 10.

Portfolio managers Jim Schier and Mark Mitchell lead a staff of 10 professionals that focus exclusively on SGI’s value style. “We believe these strategies will appeal to both institutional and retail investors while each addresses different investment objectives. The Small Cap Value strategy offers institutional and retail investors exposure to a pure small cap market capitalization style while the All Cap Value strategy provides investors with an unconstrained best ideas value portfolio across the capitalization spectrum,” said Mitchell, in a company announcement.

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Security Global Investors is the asset management arm of Security Benefit Corporation. More information is available at www.securitybenefit.com.

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