AUL Retirement Services sees spike in 403(b) plan growth
Beth King, APR, Media Relations Manager
(317) 285-4168, email@example.com
For Immediate Release:
Indianapolis (Aug. 18, 2008) – Less than six months until the balance of the Internal Revenue Service regulations take effect for 403 (b) plans, AUL Retirement Services has seen more than a 400 percent increase in proposal activity from July 2007.
The new regulations include requirements for:
• Maintaining a written plan document, which takes effect on Jan. 1, 2009
• Making asset transfers
• Offering universal availability
In a rush to become compliant, plan sponsors across the country are looking for leadership direction and assistance in understanding how to best communicate these changes to their employees.
“Undoubtedly, as more 403(b) plans begin operating like a 401(k) plan, organizations looking to bid their retirement planning business can look to a leader like AUL Retirement Services for answers,” said Bill Yoerger, senior vice president, AUL Retirement Services. We’re ready to serve by empowering plan administrators with the options and tools needed to deliver value to their participants.”
AUL Retirement Services offers local support, including specialized plan design, installation, employee communications, compliance assistance and ongoing relationship management. Additionally, AUL Retirement Services offers customized service for plans in the small to mid market, which have been abandoned by other vendors.
“AUL is committed to the business by offering a personalized approach that is customer and distribution-focused,” Yoerger continued. “As a result, we’re able to serve multiple defined contribution markets.”
About AUL Retirement Services
American United Life Insurance Company® (AUL) is the founding member of OneAmerica® and offers a wide range of retirement plans, products and services for individuals and employers. As a leader in the retirement services industry, AUL provides local service through a national network of experienced professionals specializing in the 401(k) and 403(b) and 457 (nonprofit) markets.
American United Life Insurance Company® (AUL), a OneAmerica® company, is focused on providing a strong portfolio of products for individuals, families and small businesses. AUL utilizes a national network of experienced professionals specializing in an extensive menu of financial products, including life insurance, annuities and employee benefits. The company helps consumers plan for tomorrow by creating, leveraging and protecting their financial futures.