Why should you consider working with Securian Financial? Experienced retirement professionals, flexible investing solutions and simplified administration are just a few reasons.
Service and expertise
Our numbers say it all
The value of decades of experience*
| Conversion managers | Relationship managers | Account managers | ERISA plan consultants | Investment specialists | Customer service advocates |
|---|---|---|---|---|---|
| 13 | 23 | 26 | 23 | 24 | 5 |
*Combined average years of experience as of 12/1/21
Successful long-term client relationships
High-touch service from long-tenured retirement plan specialists help Securian Financial stand apart from other retirement plan providers.
as of 12/31/21
Securian retirement plans retention 2018-2021
2018
2019
2020
2021
Plan sponsor outsourcing strategies
Personalized, highly efficient services produce time savings for plan sponsors and support positive retirement outcomes for employees.
- High-touch service from retirement specialists supported by technology
- Plan design based on employer goals, budget and employee demographics
- Loan payments from employee bank account via ACH means payments continue after termination with no employer involvement
- QDRO outsourcing moves work from the employer to us
- Hardship determinations completed by Securian rather than the employer
- Terminated employee tracking and address updating with fees charged to employee account
- Systematic withdrawals
ERISA 3(16) fiduciary service
Plan sponsors can also elect our ERISA 3(16) fiduciary program where most administrative tasks are transferred to Securian along with the fiduciary risk for performing those services.3
| Fiduciary task | Responsible party | |
|---|---|---|
| Securian | Plan sponsor | |
| Single plan document | ||
| Provide contributions, employee census data | ||
| Prepare, sign and submit 55004 | ||
| Process distributions: Review, approve, processes certain distributions | ||
| Process loans: Payments via ACH, rate management, deem loans | ||
| Determine eligibility: Initial mailings, enrollment materials, and online enrollment* | ||
| Deliver required notices** | ||
| Track terminated employees: Locating, updating with fees charged to employee account | ||
| Provide online beneficiary elections | ||
| Contribution rate management | ||
| Calculate, track vesting | ||
| Determine, process required minimum distributions | ||
| 1099-R reporting | ||
| Determine HCEs4 | ||
| Perform annual compliance testing4 | ||
| Calculate test corrections4 | ||
| Process excess contributions and communicate directly to impacted participants | ||
| Manage forfeitures | ||
*ERISA 3(16) fiduciary program not available on unbundled service platform.
**Securian Financial is not acting as a 3(21) fiduciary and is not responsible for investment fund selection.
Innovative investment approach
Over the years we purposefully avoided trends and focused on creating an investment approach that is innovative and fiduciary friendly.
Client-first investment practices
- Revenue sharing is credited back to participant accounts daily, thereby eliminating inequity in assessing plan costs to participants.
- Foreign tax credits are credited back to the separate accounts that generated them, resulting in lower separate account expenses and optimized performance.
- Utilize the most efficient share class after revenue sharing and/or foreign tax credits have been credited back to help optimize expenses and maximize returns.5
- Leverage sub-advised accounts whenever possible to provide more choice in capacity constrained asset categories or lower investment costs relative to mutual fund versions of the strategy.
- Pricing is not affected by proprietary funds, mapping strategies or fund selections.
Extensive investment choice
Investments are available under an open architecture platform or the Securian Signature Series®.
Securian Signature Series
Plan sponsors may select the Securian Signature Series which offers a diversified investment array selected and monitored by the Securian Financial Due Diligence Committee.
- Plan sponsors can appoint Securian as a platform level ERISA 3(38) fiduciary for the Signature Series
- If appointed, an Indemnification Agreement is provided that outlines our fiduciary responsibility for the selection, monitoring and, if necessary, replacement of investments held in the array6
Open architecture platform7
Over 6,000 unique investment options without the distraction of multiple share classes of the same strategy
Comprehensive participant experience
Enrollment — via our mobile app, website or paper, the enrollment experience is simple and quick with one focus – get participants saving
Engaging educational tools and resources — podcasts, newsletters, videos and campaigns cover a variety of key retirement topics and offer insights to help develop healthy financial habits
Calculators and planning tools — provide employees with relevant savings and investing information at every stage of their life
Virtual and in-person meetings — support enrollment and educate on savings and investing strategies, financial wellness as well as your plan features to help ensure participants make the best use of your benefit
Spanish materials — enrollment, educational materials, the participant website and customer service advocates support Spanish speaking employees
Simplified investing strategies streamline participant asset allocation decisions — the solutions appeal to employees’ desired level of involvement and degree of personalization
Financial Wellness 360®
Our Financial Wellness 360® program is a truly holistic financial wellness program. It targets the real issues such as saving, reducing debt and getting on a monthly budget, and offers flexible solutions to meet the needs of your diverse workforce. Participants easily access all of the resources via our participant website.
Seamless conversion and implementation
Multiple levels of support ensure a smooth transition
- Conversion manager takes the lead and handles the details
- Dedicated data exchange specialist helps ensure secure data transmission
- Plan review to identify improvement opportunities
Retirement plans thought leadership
Plan on us to help you stay up-to-date in the ever-changing retirement plan marketplace.
Our white papers cover the latest topics in the retirement industry and are a great way to build your knowledge and share valuable information.
Read our white papers1. Securian Plan Sponsor Satisfaction Survey as of 12/31/2021. Satisfaction rating for clients with over $10 million in assets.
2. 2019 - 2021 PLANSPONSOR Best in Class DC Providers Survey Rankings, 2021.
3. ERISA 3(16) fiduciary program not available on unbundled service platform.
4. Not available on Enhanced TPA Solutions platform.
5. Returns are maximized relative to all of the mutual fund share classes available for the investment strategy.
6. If appointed as a platform 3(38) fiduciary for a particular plan utilizing investment options available under Securian’s Signature Series® array, Minnesota Life Insurance Company has the sole responsibility for the selection, monitoring and, if necessary, replacement of the investment vehicles held in the separate accounts offered. Minnesota Life Insurance Company acknowledges its responsibility as an ERISA 3(38) fiduciary for the selection of providers of investment management services with respect to its separate accounts which are part of the Signature Series. Minnesota Life Insurance Company’s platform 3(38) fiduciary service does not include investment options selected by the plan level fiduciary that are not part of the Signature Series. Individuals or firms selecting specific investments from the Signature Series for a particular plan are considered plan level fiduciaries and Securian is not responsible for the fiduciary decisions made by plan level fiduciaries.
7. Please note that RIAs may limit their financial professionals’ ability to participate in offering an open architecture solution.
Target Pro® Portfolios are asset allocation services based on generally accepted investment principles, leverage employee data already in the plan and are created and maintained by a plan’s Registered Investment Advisor. The assets in the portfolios are held in a group variable annuity contract issued by Minnesota Life Insurance Company as selected by the plan sponsor. The underlying investments of the group variable annuity contract could be held in various investment vehicles. Securian Financial provides the administrative recordkeeping services for the portfolios. Stadion Money Management, LLC. provides the portfolio allocation services. Stadion Money Management, LLC. is not affiliated with Securian Financial Group, Inc. or Minnesota Life Insurance Company. The managed account allocation investment manager has the discretion to change investments utilized by the portfolios without notice. However, if the plan makes a change to its core investment lineup that also impacts the managed account portfolios, you will receive prior notification of the change. Fees associated with this service are described in your Participant Fee and Investment Notice, which is available at securian.com/retirement.
Target Age® and Target Risk™ Portfolios are based on generally accepted investment principles and consider an investor’s life expectancy and risk preference, respectively. These portfolios should not be construed as investment advice. A person should select investments based on personal goals and situation. The investment options that comprise Target Age and Target Risk Portfolios also can be selected separately outside of Target Age and Target Risk Portfolios. The investment options are not guaranteed and may increase or decrease in value.
Securian Financial’s retirement plan products are offered through a group annuity contract issued by Minnesota Life Insurance Company or Securian Life Insurance Company, a New York authorized insurer.
DOFU 5-2022
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