Product Enhancement Reduces Investment Expenses for Managed Account Service
NEW YORK, November 10, 2009 — The Guardian Insurance & Annuity Company, Inc. (GIAC), a wholly-owned subsidiary of The Guardian Life Insurance Company of America (Guardian), announced today that Stadion Money Management, Inc. (Stadion) is introducing an enhancement to Stadion’s managed account services offered to plan participants who utilizeThe Guardian ChoiceSM and The Guardian Advantage® group retirement products. The investment lineup for the managed account service has been expanded to include collective investment funds (CIFs) advised by Stadion. The underlying investment vehicles in these funds will be exchange-traded funds (ETFs), cash and cash equivalents. These CIFs will be used exclusively by Stadion in their management of plan participant accounts and are not available for direct investment by plan sponsors or plan participants.
“The new CIFs will benefit plan participants by improving trading efficiencies that allow Stadion, as investment advisor, to respond more quickly to changing market conditions and by reducing investment expenses through the use of these lower cost investment options,” said Scott Dolfi, Guardian’s Executive Vice President, Retirement Solutions. “This enhancement further illustrates. The Guardian Insurance & Annuity Company ’s commitment to providing best-in-class retirement solutions to small and mid-sized businesses.”
GIAC currently provides funding vehicles for 2,359 group retirement plans with a combined $1.9 billion in assets. In 2009, more than 87% of the plan sponsors who have utilized The Guardian ChoiceSM or The Guardian Advantage® as their funding vehicle have adopted the Stadion managed account service as their qualified default investment alternative (QDIA).
The Guardian Insurance & Annuity Company, Inc., a Delaware corporation that is a wholly-owned subsidiary of Guardian, issues The Guardian ChoiceSM and The Guardian Advantage®.
A mutual insurer founded nearly 150 years ago, The Guardian Life Insurance Company of America and its subsidiaries are committed to protecting individuals, business owners and their employees with life, long term care insurance, disability income, group medical and dental insurance products, and offer 401(k), annuities and other financial products. Guardian operates one of the largest dental networks in the United States and protects more than six million employees and their families at 120,000 companies. The company has more than 5,400 employees in the United States and a network of over 3,000 financial representatives in more than 80 agencies nationwide.
The Guardian Advantage group variable annuity contract and The Guardian Choice group variable group funding agreement are issued by The Guardian Insurance & Annuity Company, Inc. (GIAC), a Delaware corporation whose principal place of business is 7 Hanover Square, New York, NY 10004. GIAC is a wholly-owned subsidiary of The Guardian Life Insurance Company of America, New York, NY.
For more information about Guardian, please visit: www.GuardianLife.com.
SOURCE:The Guardian Life Insurance Company of America
Web site: http://www.guardianlife.com/