Security Mutual Releases Retirement Plan Guide for Advisers
Security Administrators, Inc., a subsidiary of Security Mutual Life Insurance Company, introduced a guide about fully insured plans and cash balance plans.
Security Mutual said the guide is designed to help financial advisers better understand those types of plan designs. “Federal law and regulations regarding fully insured plans and cash balance plans are more involved than those that apply to 401(k) plans,” the company said.
According to Security Mutual, fully insured plans or cash balance plans, when used in combination with 401(k) plans, can provide many business owners and self-employed professionals with much greater retirement accumulations than standalone 401(k) plans. They can also provide tax benefits. The guide provides a road map for insurance advisers interested in presenting such combination designs to their clients.
The guide is available for download at www.smlplans.com or www.saiplans.com.