The benefits include employer-assisted student loan repayment, college savings, student loan repayment support and tuition reimbursement. Along with “Employee Choice”—a program allowing employees to choose if their employer-matched funds go toward paying off their students loans, funding their retirement plan or both—the benefits are available to Securian Financial retirement plan customers at reduced pricing.
More than 44 million Americans have student loan debt. More than 65% of public and private non-profit college graduates left college with student loan debt in 2018. They carried an average financial burden of $29,200.1
“With student loan debt being a significant financial pain point for countless Americans, we are excited to team up with BenefitEd to offer these important benefits to our customers,” said Brandon Bellin, Securian Financial director and actuary for retirement solutions.
A history of retirement plan service excellence
Securian Financial has been helping people save for retirement since 1930. Its platform features long-tenured retirement specialists, fiduciary-friendly fee levelization practices and extensive administrative outsourcing, most of which is offered at no additional cost. Securian Financial provides services to employer-sponsored retirement plans through group annuity products issued by Minnesota Life Insurance Company.
About Securian Financial
At Securian Financial, we’re here for family. And we’re here because of it. We’re guided by our purpose: helping customers build secure tomorrows. Since 1880, we’ve been building a uniquely diversified company that has outlasted economic ups and downs while staying true to our customers. We’re committed to the markets we serve, providing insurance, investment and retirement solutions that give families the confidence to focus on what’s truly valuable: banking memories with those who matter most.
BenefitEd offers customized employer-assisted student loan repayment programs and college savings programs to employers looking to build highly competitive, differentiated benefits packages. We offer these programs direct to employers, through benefit brokers, and white label solutions.
In 2017, BenefitEd became a joint partnership between Ameritas Life Insurance Corp. and Nelnet, Inc. This partnership leverages Ameritas’ expertise in the distribution and management of employee benefits and Nelnet’s relationships with student loan lenders and decades of experience in payment processing. Through significant scale and experience, BenefitEd can meet the needs of companies both large and small.