Mutual of Omaha hiring experienced workers
Mutual of Omaha Retirement Services plans to add staff members in its Omaha office to provide administrative support and fiduciary services for the company’s 401(k) plans. It is in response to the expected sales of the company’s 401(k) Admin Advantage SM, an ERISA section 3(16) services.
The company reported that since June, when the services launched, it has seen about 50 percent of proposals and sales of 401(k) plans have included the Admin Advantage SM option. Job postings can be found here.
“The new service is resonating well with plan sponsors and we expect interest to grow,” said John Corrieri, vice president of 401(k) at Mutual of Omaha. “So, we are growing our team to ensure dedicated support for plans selecting this new fiduciary service.”
The service allows business owners to offer 401(k) plans to employees without having to become experts on that option. Instead, they can rely on Mutual of Omaha to manage those services.
“They want to focus on running their business,” Corrieri said. “However, there are a number of specific compliance requirements that must be followed when offering a 401(k) plan, which makes it challenging for an employer serving as the ERISA section 3(16) plan administrator.”
Source: Mutual of Omaha