ST. PAUL, Minn.--(BUSINESS WIRE)--An independent industry evaluator has again bestowed its “Communication Seal of Excellence” on the quarterly statement Securian Financial Group issues to participants of employer-sponsored retirement plans the company manages.
DALBAR, a financial services market research firm, says Securian’s statement ranks the fifth best of 19 defined benefit contribution providers evaluated this year.
Participant statements serve as a critical line of communication between financial services firms and investors. DALBAR’s annual rankings indicate which retirement plan recordkeepers are using this tool most effectively and efficiently to communicate with participants.
Securian’s statement includes a “Retirement Income Checkup” — an easy-to-understand, hypothetical illustration of how retirement savings translate into monthly income at retirement. The projection includes current account balance, projected future employee and/or employer contributions, Social Security and, if applicable, pension income if that plan is also serviced by Securian.
The projected monthly income is compared to a “Target Zone” of income needed to replace 70-100 percent of pre-retirement income.
“For many of the participants enrolled in our retirement plans, the quarterly account statement is their primary interaction with Securian,” said Rick Ayers, Securian’s Retirement Plans division vice president. “The statement gives us an opportunity to educate participants about the importance of saving enough to maintain their current lifestyle in retirement — a goal financial experts say we should all strive to obtain.”
DALBAR has given its Communication Seal of Excellence to Securian’s participant statement and website every year from 2002 to 2011, and 2013 to 2017.
About Securian’s Retirement Plans division
Securian’s Retirement Plans division has been helping people save for retirement since 1930. Its platform features long-tenured retirement specialists, industry-leading fee levelization practices and extensive administrative outsourcing (offered at no additional cost). Securian provides services to employer-sponsored retirement plans through group annuity products issued by Minnesota Life Insurance Company.
About Securian Financial Group
Since 1880, Securian Financial Group and its affiliates have provided financial security for individuals and businesses in the form of insurance, investments and retirement plans. Now one of the nation’s largest financial services providers, Securian is the holding company parent of a group of companies that offer a broad range of financial services.
DALBAR is the financial community’s leading independent expert for evaluating, auditing and rating business practices, customer performance, product quality and service. Launched in 1976, DALBAR has earned a reputation for consistent and unbiased evaluations of investment companies, registered investment advisers, insurance companies, broker/dealers, retirement plan providers and financial professionals. DALBAR awards are recognized as marks of excellence in the financial community.