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 |
|---|---|---|---|---|---|
| 14 | 22 | 25 | 21 | 23 | 7 |
*Combined average years of experience as of 12/31/20
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 12/31/20
Securian retirement plans retention 2016-2020
2016
2017
2018
2019
2020
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 top-notch 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 increased performance.
- Utilize the most efficient share class after revenue sharing and/or foreign tax credits have been credited back to help minimize 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 12/31/2020. Satisfaction rating for clients with over $10 million in assets.
2. 2018 - 2020 PLANSPONSOR Best in Class DC Providers Survey Rankings
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 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 of each Target Pro Portfolio are held in a group variable annuity contract issued by Minnesota Life Insurance Company as selected by the plan sponsor. Securian Financial provides the administrative recordkeeping services for the portfolios and charges a fee for this service. Stadion Money Management, LLC provides the Target Pro allocation services. Stadion Money Management, LLC is not affiliated with Securian Financial Group or Minnesota Life Insurance Company.
Target Age and Target Risk Portfolios, which are built from the plan’s investment options, are based on generally accepted investment principles and consider an investor’s life expectancy and risk preference, respectively. These portfolios are not guaranteed and may increase or decrease in value. Neither asset allocation nor diversification guarantee against loss. They are methods used to manage risk. Investment transfer restrictions may impact the stated portfolio allocations. The specific plan investments used within the portfolios are subject to change at the discretion of the plan sponsor or due to the closing of an investment. The plan sponsor may change the allocation model or Securian Financial and the plan sponsor may terminate the service at any time after providing written notice. Making investment allocation changes, transfers, or auto-rebalancing requests will automatically remove a person from Target Age or a Target Risk Portfolio. A person may cancel Target Age or Target Risk Portfolios and make other investment changes at securian.com/retirement or by calling 1-800-233-2881. Target Age and Target Risk Portfolios should not be construed as investment advice. Target Age and Target Risk Portfolios illustrate only some of the possible investment choices. Alternative investment allocations having similar risk and return characteristics can be created from the investment options available in the plan. Additional information regarding alternative investment options within each asset class can be found on our website or may be provided at your request. In applying a particular asset allocation, a person should consider time horizon, risk preference, other assets, income and investments (e.g., equity in a home, Social Security benefits, IRAs, savings accounts and interests in other qualified and non-qualified plans) in addition to any assets in the retirement savings plan. A financial professional should be consulted for questions regarding personal financial situations.
Securian Financial's qualified retirement plan products are offered through our group variable annuity contract issued by Minnesota life Insurance Company.
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