Securian’s Fiduciary Friendly 401(k) Practices Verified by CEFEX

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Retirement plan service provider addressed key conflict of interest
concerns long before DOL scrutiny of industry

ST. PAUL, Minn.–(BUSINESS WIRE)–401(k) plan sponsors and advisors concerned about how they will be
impacted by the impending Department of Labor conflict of interest rule
can take comfort from a Registered Opinion Letter issued to Securian
Retirement.

The Centre for Fiduciary Excellence (CEFEX), an independent
certification organization, has issued a Registered Opinion Letter
verifying that Securian’s 401(k) recordkeeping platform:

  • on a daily basis, passes all revenue sharing payments it receives back
    to retirement plan participants’ accounts
  • uses the lowest net share class of the funds it offers within its
    group variable annuity
  • has no hidden fees

Securian Retirement also does not vary its 401(k) contract fees based on
the use of proprietary investment options. All of these practices—which
Securian’s 401(k) recordkeeping platform has been consistently
performing since 1993, when mutual funds were first added to the
company’s investment array for 401(k) plans—address key conflicts of
interest expected to be impacted by the DOL rule.

“Obtaining the CEFEX Registered Opinion Letter will assist our clients
and advisors that work with us no matter the final conflict of interest
rule language,” said Ted Schmelzle, Securian’s director of plan sponsor
services. “As fee and expense litigation continues to be in the
headlines, our clients and their advisors can take comfort in this
third-party verification of our practices. We made fiduciary friendly
decisions on these issues long before they were scrutinized by the DOL
and courts.”

ABOUT SECURIAN RETIREMENT
Securian’s Retirement Plans division has
been helping people save for retirement since 1930. Its platform
features long-tenured retirement specialists, industry-leading fee
levelization practices and extensive administrative outsourcing (offered
at no additional cost). Securian provides services to thousands of
employer-sponsored retirement plans.

ABOUT SECURIAN FINANCIAL GROUP
Since 1880, Securian
Financial Group
 and its affiliates have provided financial security
for individuals and businesses in the form of insurance, investments and
retirement plans. Now one of the nation’s largest financial services
providers, Securian is the holding company parent of a group of
companies that offer a broad range of financial services.

ABOUT CEFEX
The Centre
for Fiduciary Excellence
, LLC, is an independent certification
organization. CEFEX works closely with industry experts to provide
comprehensive assessment programs to improve the fiduciary practices of
investment stewards, advisors, record keepers, administrators and
managers. CEFEX has offices in Pittsburgh, Pa. and Toronto, Canada.

DOFU 03-2016
39440

Contacts

Securian Financial Group
Jeff Bakken, 651-665-7558
Media
Relations
jeff.bakken@securian.com