Workplace Retirement Program for ERISA Plans

At a glance

Product name: Workplace Retirement Program for ERISA Plans
Product type
Mutual Fund
Minimum purchase
$2 Million in Plan Assets
Account type(s):
401(a)
401(k)
403(b) ERISA
457 Tax Exempt
Cost
Flexible to fit the Plan Sponsor’s needs
Strategy
Low cost investment options with efficient enrollment
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For 401(k), 401(a), 403(b) ERISA, and 457(b) Tax Exempt

Key features
  • Low-cost Target Date Funds
  • Low-cost Vanguard Index Funds and Mesirow® Asset Allocation Models
  • 3(38) Fiduciary Services 

Employers are ultimately held responsible for the investment options offered within their retirement plan. But, ERISA law does allow for that responsibility to be transferred to an independent third-party.

The Security Benefit Workplace Retirement program transfers the investment fiduciary obligation and the associated liability to Mesirow Financial, an independent investment manager. Mesirow Financial is experienced in interpreting fiduciary requirements and contractually agrees to become the 3(38) fiduciary for your plan. 

In addition to the 3(38) Fiduciary Services, Security Benefit provides the tools you need with our plan comparison reports. These comparison reports can help in meetings with employers to see if their current plan investment line-up meets the fiduciary standard of care. 

Security Benefit has partnered with Mesirow Financial® to create Security Benefit Workplace Retirement Program. As the contracted 3(38) investment fiduciary to plan sponsors who choose Workplace Retirement program for ERISA plans, Mesirow Financial is responsible for the investment selection, investment monitoring, and investment replacement under the plan. 

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For more information (including financial professional fact sheets and resources), contact your dedicated Sales Team.

We’re here to help your clients To and Through Retirement®.

Application
ERISA
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FINANCIAL PROFESSIONAL USE ONLY — NOT FOR USE WITH CONSUMERS
 

You should consider the investment objectives, risks, charges, and expenses of the Workplace Retirement Plans (CS) carefully before investing. You may obtain prospectuses or summary prospectuses (if available) that contain this and other information about the mutual funds by calling our Service Center at 800.888.2461. You should read the prospectuses or summary prospectuses (if available) carefully before investing. Investing in mutual funds involves risk and there is no guarantee of investment results.

Security Benefit and its subsidiaries are not affiliated with Mesirow Financial or Financial Soundings, LLC.

The principal value of target date funds is not guaranteed at any time, including at or after the target date, which is the approximate date when investors turn age 65. The funds invest in a broad range of underlying mutual funds that include stocks, bonds, and short-term investments and are subject to the risks of different areas of the market. The funds emphasize potential capital appreciation during the early phases of retirement asset accumulation, balance the need for appreciation with the need for income as retirement approaches, and focus more on income and principal stability during retirement. The funds maintain a substantial allocation to equities both prior to and after the target date, which can result in greater volatility. 

The Security Benefit Workplace Retirement Program for ERISA Plans (CS) 401(k) and 401(a) products are Trust Accounts under §401 of the Internal Revenue Code. The Security Benefit Workplace Retirement Program for ERISA Plans (CS) 403(b)(7) ERISA product is a Custodial Account under §403(b)(7) of the Internal Revenue Code. The Security Benefit Workplace Retirement Program for ERISA Plans (CS) 457(b) Tax Exempt product is a Trust Account under §457(g) of the Internal Revenue Code.

Services are offered through and securities are distributed by Security Distributors, a subsidiary of Security Benefit Corporation (Security Benefit).

SB-10033-31 | 2023-06-15