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This content is a press release from our partner BusinessWire. The AP newsroom and editorial departments were not involved in its creation.

Mutual of Omaha Retirement Services Adds American Funds Target Date Retirement Series® to QDIA Roster

January 22, 2019

OMAHA, Neb.--(BUSINESS WIRE)--Jan 22, 2019--Mutual of Omaha Retirement Services recently announced the addition of a new target date series to its fund lineup and selection of Qualified Default Investment Alternatives (QDIAs). After a thorough review of several alternatives, American Funds Target Date Retirement Series was chosen to enhance Mutual of Omaha’s comprehensive list of investment options.

The American Funds series puts an emphasis on equities that pay dividends to help balance market and longevity risks and are managed on a glide path for 30 years after an employee’s approximate retirement date. The fund series seeks continued growth during retirement utilizing strong underlying funds and a commitment to lower costs.

In addition to the new target date series, Mutual of Omaha is also adding American Funds EuroPacific Growth Fund ® along with 14 other individual funds to expand its investment options across multiple asset categories. These changes are a result of Mutual of Omaha’s comprehensive selection and monitoring process, which constantly evaluates funds and makes proactive adjustments when appropriate.

“We’re very excited about these additions to our platform and look forward to working with the American Funds RPCs (Retirement Plan Counselors) to make our unique retirement plan product and service advantages available to advisers,” said John Corrieri, Vice President of Mutual of Omaha Retirement Services. “One objective of our fund selection process is to always keep the plan sponsors’ fiduciary best interest in mind; we feel adding the American Funds series supports that goal.”

“We are honored that Mutual of Omaha Retirement Services has added American Funds to its investment option line-up,” said Brendan Mahoney, National Sales Manager, American Funds. “Mutual of Omaha Retirement Services conducted a rigorous fund selection process in conjunction with Callan, one of the largest investment consulting firms in the U.S., to find the fund options that should add value for both plan sponsors and advisers. We very much look forward to this mutually beneficial partnership to improve retirement outcomes for our joint clients.”

By adding another target date series to its QDIA roster, Mutual of Omaha helps plan sponsors align with Department of Labor guidelines for establishing an objective process to evaluate, compare and select an appropriate QDIA for their workforce.

Founded in 1909, Mutual of Omaha is a full-service, multi-line organization providing insurance, banking and financial products for individuals, businesses and groups throughout the United States. For more information about Mutual of Omaha Retirement Services, visit www.GetRetirementRight.com.

Since 1931, Capital Group, home of American Funds, has been singularly focused on delivering superior results for long-term investors using high-conviction portfolios, rigorous research and individual accountability. As of June 30, 2018, Capital Group manages more than $1.8 trillion in equity and fixed income assets for millions of individual and institutional investors around the world.

The Capital Group companies manage equity assets through three investment groups. These groups make investment and proxy voting decisions independently. Fixed income investment professionals provide fixed income research and investment management across the Capital organization; however, for securities with equity characteristics, they act solely on behalf of one of the three equity investment groups.

View source version on businesswire.com:https://www.businesswire.com/news/home/20190122005692/en/

CONTACT: Sephera Staley

Mutual of Omaha

(402) 351-3096

sephera.staley@mutualofomaha.com

KEYWORD: UNITED STATES NORTH AMERICA NEBRASKA

INDUSTRY KEYWORD: SMALL BUSINESS PROFESSIONAL SERVICES FINANCE HUMAN RESOURCES INSURANCE

SOURCE: Mutual of Omaha

Copyright Business Wire 2019.

PUB: 01/22/2019 11:19 AM/DISC: 01/22/2019 11:19 AM

http://www.businesswire.com/news/home/20190122005692/en