Local Master Builders Association, Symetra Offer
New Employee Benefits to Members
Bellevue, Wash. — (May 3, 2007) — The Master Builders Association of King and Snohomish Counties announced today a new employee benefit program from Symetra Life Insurance Company. The enhanced benefit package, available exclusively to employer members of Master Builders, includes a 401(k) plan, as well as voluntary term and universal life insurance.
Most retirement plans require a certain number of employees or a minimum dollar amount in the plan at all times. The Symetra 401(k) program lets any employer member participate in the program no matter their size. The program features a wide array of non-proprietary, multi-manager mutual funds — including 80 different funds from leading investment management firms. Symetra’s unique 401(k) plans are easy to administer and are specifically tailored for the small business marketplace.
Employees are also eligible to purchase voluntary individual term and universal life insurance to help protect their loved ones from unexpected loss. Employees can purchase new policies or supplement their existing insurance coverage. Because employees own their own policies, there are no administration requirements or direct-cost for the employer. In addition, premiums are conveniently withdrawn through payroll deduction, so employees do not have to worry about receiving a separate bill each month.
“Symetra’s easy to administer, affordable workplace benefits will help our members recruit and retain the best employees,” said Sam Anderson, executive officer of the Master Builders Association of King and Snohomish Counties. “This is one more way our association delivers value to our members.”
Gary Akiyama, an independent financial planning specialist at Akiyama Financial Services LLC with offices in Seattle, Tacoma and Vancouver, Wash. will work with Symetra and the Master Builders to implement the 401(k) plans. Sound Insurance Services in Seattle, Wash. will help employees set up the Symetra life insurance benefit package.
“We are excited to bring cost-effective, Fortune 500-style retirement benefits to Master Builders’ members,” said Akiyama. “Historically only larger businesses would have access to this caliber of a 401(k) program. However, because of the exclusive arrangement from Symetra Financial with the Master Builders Association of King and Snohomish Counties, it is available to all members with no minimum asset requirements.”
About Symetra Financial
Symetra Financial is a family of companies with a half-century of experience providing retirement plans, employee benefits, annuities and life insurance through independent advisors and agents nationwide. Its insurance company subsidiaries have nearly $20 billion in assets
1. Symetra Financial 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 Master Builders Association of King and Snohomish Counties
Founded in 1909, Master Builders Association is a local trade association comprised of more than 4,300 companies involved in the residential construction industry. It is the largest local home building association in the nation and is affiliated with the National Association of Home Builders. Its philanthropic programs include the Master Builders Care Foundation, Master Builders Education Foundation and the Built Green environmental building program. For more information, visit
www.masterbuildersinfo.com.
1 Total GAAP assets per closing statements of Symetra Life Insurance Co., December 31, 2006.
Symetra® and the Symetra Financial logo are registered service marks of Symetra Life Insurance Company, 777 108th Avenue NE, Suite 1200, Bellevue, WA 98004.
