Symetra® Financial Teams With Mesirow Financial to Improve Choice and Flexibility in Small Business 401(k) Plans
Bellevue, Wash. — (Jan. 16, 2007) — Symetra
® Financial and Mesirow Financial announced an agreement today to offer small businesses more choice and flexibility for employer-sponsored 401(k) plans. The partnership will greatly expand the number of mutual funds available in Symetra’s 401(k) platform, giving small businesses cost effective access to the type of plans typically available only to Fortune-500 sized companies.
With the addition of Mesirow Financial, 80 mutual funds are now available in the Symetra platform, adding enhanced flexibility to respond to the diverse investment needs of America’s small businesses. Because there are no proprietary mutual funds, plan participants can choose from a broad set of funds from leading investment management firms, such as American Funds, Dreyfus Corporation, Fidelity Management & Research, AIM Investments and American Century Funds.
Experts in fund selection and asset allocation, Mesirow Financial will monitor the performance of funds in Symetra’s 401(k) program on an ongoing, quarterly basis, making it easier and more efficient to maintain retirement plans. The Symetra program will also provide co-fiduciary services at no cost for plans using Mesirow Financial-prescribed funds, further helping plan-sponsors manage their fiduciary risk exposure.
Traditionally, larger employers have been more likely than smaller companies to offer employment-based retirement plans.
1 However, most signs point toward long-term growth in the small business marketplace. Symetra’s 401(k) program was developed to reach this underserved yet growing market.
“It can be difficult for small businesses to offer the same type of retirement plan benefits that large companies provide due to high cost and the limited options that are made available to them,” said Scott Bartholomaus, vice president of retirement services at Symetra Financial. “Our goal is to give small businesses a broad selection of retirement plan options that are easy to administer, affordable and widely accessible to workers. Mesirow Financial shares this goal and this partnership will greatly enhance Symetra’s 401(k) program.”
“Through our role in the Symetra 401(k) program, small businesses now have access to professional analysis, expert fund selection and extensive research tools provided by an unbiased and independent expert,” comments James C. Tyree, chief executive officer of Mesirow Financial. “This agreement underscores our long-term commitment to providing high-quality investment research services to small companies that enhance their retirement programs and ultimately benefit the workforce.”
About Symetra Financial
Symetra
® Financial is a family of companies with nearly a half-century of experience providing retirement plans, employee benefits, annuities and life insurance through independent advisors and agents nationwide. The company has more than $20 billion in assets
2 and is owned by an investor group led by White Mountains Insurance Group Ltd. and Berkshire Hathaway Inc. For more information, visit Symetra Financial’s website at
www.symetra.com.
About Mesirow Financial
Mesirow Financial is a diversified financial services firm headquartered in Chicago. Founded in 1937, the firm has more than $30 billion in assets under management and custody, and more than 1,100 employees in locations across the country and in Puerto Rico. The firm’s Investment Strategies
3 team provides robust manager analysis and selection capabilities, strategic asset allocation and dynamic portfolio management for variable insurance companies, mutual fund complexes, plan sponsors, plan providers and broker/dealers. Its innovative PrecisionAlpha
TM process combines extensive quantitative and qualitative research to develop investment strategies intended to maximize risk and reward tradeoffs for investors. For the fiscal year ended March 31, 2006, the firm posted revenues of $364 million and had $180 million in capital. For more information about Mesirow Financial, visit its Web at
www.mesirowfinancial.com.
1 “Employment-Based Retirement and Pension Plan Participation: Geographic Differences and Trends,” Employee Benefit Research Institute Issue Brief #256, April 2003
2 Source: Total GAAP assets per financial statements of December 31, 2005
3 Investment strategy services are provided by Mesirow Financial Investment Management, Inc.
Before investing, carefully consider the investment objectives, risks, charges and expenses. This and other information is contained in the contract prospectus and the underlying portfolio prospectuses. Please call or write your Registered Representative or Symetra for free copies of the prospectuses and read them carefully before investing.
All mutual funds are subject to market risk, including loss of principal.
Securities are offered through Symetra Securities Inc., member SIPC, Bellevue, Washington 98004. Distribution of mutual fund retirement program is provided by Symetra Investment Services, 777 108th Ave. NE, Suite 1200, Bellevue, WA 98004-5153. Symetra Financial is not affiliated with Mesirow Financial.
Symetra® and the Symetra Financial logo are registered service marks of Symetra Life Insurance Company, 777 108th Avenue NE, Suite 1200, Bellevue, WA 98004.
