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Products August 8, 2014
403(b)(7) Opportunities Available through Pacific Life
Pacific Life is expanding its retirement plan offerings and making it easier for financial advisers to offer mutual fund solutions for employer-sponsored 403(b)(7) plans.
Reported by Matthew Miselis
403(b)(7) plans are 403(b) plans for which assets are held in custodial accounts that provide investments through mutual funds.
The Pacific Life 403(b)(7) Program is designed to offer K-12 public school employees diverse investment options through Pacific Life Funds. The program also leverages plan administration services from Aspire that can provide participants with a cost-effective solution for building and maintaining retirement portfolios.
Pacific Life says this program can help plan sponsors and participants achieve their investment goals by offering mutual funds based on diversification and income generation needs. This allows financial advisers to help clients select solutions suited to their needs and risk-reward preferences, the firm says.
The program offers access to the PL Portfolio Optimization Funds—five target-risk funds ranging from conservative to aggressive. The program also provides access to the PL Fixed-Income Funds—six fixed-income funds seeking higher levels of income that adapt to changing market conditions.
For more information about the Pacific Life 403(b)(7) Program, financial advisers are invited to visit the company website.