A news release said the underlying investment vehicles in the funds will be exchange-traded funds (ETFs), cash, and cash equivalents. The funds will be used by Stadion in its management of plan participant accounts and are not available for direct investment by plan sponsors or plan participants.
“The new CIFs will benefit plan participants by improving trading efficiencies that allow Stadion, as investment adviser, to respond more quickly to changing market conditions and by reducing investment expenses through the use of these lower cost investment options,” said Scott Dolfi, Guardian’s Executive Vice President, Retirement Solutions, in the announcement.
In 2009, more than 87% of the plan sponsors who have utilized The Guardian Choice or The Guardian Advantage as their funding vehicle have adopted the Stadion managed account service as their qualified default investment alternative (QDIA), the company said.
More information is available at www.GuardianLife.com.