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The companies of OneAmerica introduce innovative service that ensures fee equity
Next evolution of DC plan recordkeeping benefits plan sponsors
Indianapolis, July 17, 2013OneAmerica® company McCready and Keene, Inc., today announced its new Strategic and Targeted Allocation of Revenue (STAR) service. STAR helps ensure participants are paying an equitable portion of the plan expenses, regardless of their investment allocation choices.
With STAR, a plan's revenue account is allocated back to participants in proportion to the amount generated by their individual balances and fund selection. When plan administration expenses are deducted from participant accounts, STAR ensures the expenses are allocated proportionately among all participants.
“Sponsors will love this service because it assesses fees across their plan based on the funds in which participants are invested,†said Pete Welsh, vice president of product and marketing strategy for retirement business at the OneAmerica companies. “Only a select few are in a position to provide this service, and we are excited to add STAR to the long list of exceptional capabilities we offer our customers.â€
In addition to the STAR analysis and allocations, McCready and Keene will also disclose credits and/or fees on participants' account statements in compliance with fee disclosure regulation requirements from the Department of Labor.
About McCready and Keene, Inc.
McCready and Keene, Inc., a OneAmerica company, is an actuarial and retirement benefits consulting firm that focuses on designing, installing and administering customized retirement plans. Based in Indianapolis, Ind., McCready and Keene provides actuarial services to defined benefit plans and provides record keeping services to employee stock ownership plans and other defined contribution plans, including a trust program that uses an open architecture investment platform available to 401(k), 403(b), 457, money purchase pension, and profit sharing plans.
About OneAmerica
OneAmerica Financial Partners, Inc., headquartered in Indianapolis, Ind., has companies that can trace their solid foundations back more than 135 years in the financial services marketplace.
OneAmerica's nationwide network of companies offers a variety of products to serve the financial needs of their policyholders and other customers. These products include retirement plan products and services; individual life insurance, annuities, long-term care solutions and employee benefit plan products. 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 nationwide network of employees, agents, brokers and other distribution sources that are committed to increasing value to policyholders by helping them prepare to meet their financial goals.
McCready and Keene provides administrative and record keeping services and is not a broker/dealer or an investment advisor. Neither McCready and Keene nor its employees provide tax, legal or investment advice.
Jo Lynn Garing, Media Relations Director, 317-285-1485
jolynn.garing@oneamerica.com
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