The Mitchel Group Selects AUL Retirement Services to Take Over $25 Million Retirement Plan
The Mitchel Group Selects AUL Retirement Services to Take Over $25 Million Retirement Plan
Indianapolis, April 17, 2007
The retirement professionals at American United Life Insurance Company® (AUL), a OneAmerica company, are pleased to announce that The Mitchel Group has selected AUL as its new 401(k) provider.
Indianapolis-based Mitchel Group is one of the largest manufacturers of precision-machined parts in North America and has more than 250 participants in their defined contribution retirement savings plan.
“We chose AUL because we wanted to be the big fish in a small pond,” said Brad Smith, The Mitchel Group’s Vice President and CFO. “A great service team has been established for us and we like the quick access to AUL management.”
Since assuming $25 million in plan assets last December, plan participation at The Mitchel Group has doubled. “Plan education materials were customized for The Mitchel Group’s employees and were well understood,” said Smith. The Mitchel Group also introduced a company match for plan contributions to help entice employees to save more for retirement. “Due to AUL’s education materials and the implementation of our matching program, we doubled our participation.”
“We’re delighted to have The Mitchel Group as a part of the AUL Retirement Services family,” said Bill Yoerger, AUL Retirement Services senior vice president. “We look forward to providing them with the level of service they deserve and expect.”
The addition of The Mitchel Group to AUL Retirement Services’ list of plan sponsors supports the company’s steady growth trend. AUL Retirement Services currently has 198 premier plans over $5 million. The Mitchel Group plan is one of 16 plans with more than $25 million in plan assets.
About Mitchel-Group
The Mitchel Group is the holding company of Mitchel & Scott Machine Company and Emporo, LLC. Mitchel & Scott (a certified ISO 9000:2001 precision contract manufacturer) holds multiple global manufacturing relationships, as well as a parallel relationship with a certified Minority Business Enterprise warehousing/fulfillment entity. Emporo, LLC is a global manufacturing sales representation agency.
About AUL’s Retirement Services division
Through its Retirement Services division, AUL is an experienced provider of retirement plan products and services to both the profit and non-profit entities in the small and mid-sized markets. Its retirement products were introduced in 1963 and, today, AUL provides products and services to more than 13,000 active retirement plans with 400,000 participants and more than $8 billion in retirement plan assets. Please visit us on the Web at http://www.eretirement.aul.com/.
About OneAmerica
OneAmerica Financial Partners, Inc., is headquartered in Indianapolis, IN. The companies of OneAmerica can trace their solid foundations back more than 125 years in the insurance and financial services marketplace.
OneAmerica’s nationwide network of companies offers a variety of products to serve the financial needs of their policyholders and other clients. These products include retirement plans, products and services; individual life insurance, annuities, long-term care solutions and employee benefits. The goal of OneAmerica is to blend the strengths of each company to achieve greater collective results.
The products of the OneAmerica companies are distributed through a network of employees, agents, brokers, and other distribution sources who are committed to maximizing value to our policyholders by helping them plan to meet their financial goals.
Tax qualified retirement plans from AUL are funded by an AUL group annuity contract. While a participant in an annuity contract may benefit from additional investment and annuity related benefit under the annuity contract, any tax deferral is provided by the plan and not the annuity contract.
Registered group variable annuity contracts issued by AUL are distributed by OneAmerica Securities, Inc., Member NASD, SIPC, a Registered Investment Advisor, P.O. Box 1984, Indianapolis, IN 46206, (317) 285-1877, which is a wholly owned subsidiary of AUL.
For more information, please contact Jessica Mace at 317.285.4168
