CUNA Launches Stable Value Account for 401(k)s

February 24, 2010 (PLANSPONSOR.com) - CUNA Mutual Group has launched a fully guaranteed stable value account designed for 401(k) plans. 

The Guaranteed Account will be available to plans sold by broker-dealers who work with CUNA Mutual, according to a press release.

Highlights of the Guaranteed Account include:

  • Complete guarantees of principal and interest (which CUNA noted is not found in all stable value accounts);
  • Full liquidity (participants can transfer into and out of this account without restrictions or penalties); and
  • Compensation for retirement plan advisers.

 

“The Guaranteed Account is a stand-alone, investment-only offering and is an exciting step in the evolution of our company beyond our fully bundled products,” said Kevin Thompson, CUNA Mutual senior vice president of asset accumulation products, in the announcement. “We believe it will be a good fit for retirement plans that have an underperforming money market, guaranteed investment contract or other form of stable value account in their plan.  Likewise, it’s a great way to add an element of guaranteed income to plans that do not have such features.”

Those interested in offering this account as an adviser, broker-dealer, or plan sponsor may contact Micah DiSalvo, director of institutional sales for CUNA Mutual, at 800-356-2644, ext 6422.

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