CA Firm Unveils Governmental Plan Offering

January 26, 2005 ( - A California brokerage firm has unveiled a new retirement plan program for Golden State school districts offering 457(b) plans.

A news release from the Torrance, California-based Keenan said its Elite Choice Retirement Solutions product was designed by RSG Securities (RSG), a Keenan subsidiary. RSG is a division of WorthMark Financial Services, LLC, a Broker Dealer and Registered Investment Adviser that delivers Governmental 457(b) and 403(b) plans to California school districts.

The Los Angeles County Office of Education, among others, commissioned Robert Hornaday, CEO of RSG, to author a retirement plans operations manual, which provided guidelines for the administration, and compliance of its 403(b) and Governmental 457(b) plans, the news release said.

A 457(b) plan is similar to a 403(b) plan in that it allows employees to defer income on a pre-tax basis.