OneAmerica® Recognized for Best Practices in Behavioral Finance

The companies of OneAmerica^® were recently recognized by Allianz Global Investors Center for Behavior Finance for providing recordkeeping services that support the research-based principles presented in the best-selling book, Save More Tomorrow: Practical Behavioral Finance Solutions to Improve 401(k) Plans, by behavioral economist, professor Shlomo Benartzi of UCLA.

With a goal to help make it easier for employees to make better choices for their retirement, the Center’s pilot PlanSuccess Recordkeeper Evaluation Program, assessed defined contribution (DC) plan providers, also known as recordkeepers, on 19 key behavioral capabilities including features like auto-enrollment, auto-escalation and auto-investment.

The companies of OneAmerica earned a seal for providing services in each of the Save, Save More and Save Smarter categories assessed including capabilities like easy and active enrollment, initial deferral rates and default managed investment choices for employees.

“We’re honored to be recognized for providing retirement services and plans that make saving for retirement easier,” said Bill Yoerger, president, Retirement Services for the companies of OneAmerica. “The easier we can make participation for employees, the more likely they will be successful in preparing for their retirement.”

OneAmerica has also participated in the Center’s PlanSuccess Certified Behavioral Finance Analyst (CBFA) program, which trains financial advisors to perform behavioral audits of DC plans. These audits assess how well a company is doing at getting employees to participate, save adequately and save wisely, and equips them to make science-based recommendations for improvement.

“Behavioral finance has been a key differentiating factor for our clients who’ve received the CBFA designation,” said Glenn Dial, head of US Retirement at Allianz Global Investors (AllianzGI), an asset management company of Allianz SE. “The plan providers who have gone through the evaluation process possess extensive behavioral finance capabilities and show a willingness to continue to enhance their services and act in the best interest of their participants.”

OneAmerica was in the inaugural group of DC plan providers who completed the PlanSuccess evaluation process to enable recordkeepers to assess how well their systems support plan sponsors efforts to improve DC plans according to behavioral finance best practices.

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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.

About AUL
American United Life Insurance Company® (AUL) is the founding member of OneAmerica® and is focused on providing a strong portfolio of products for individuals, families and businesses. AUL provides local service through a national network of experienced professionals utilizing an extensive menu of financial products, including retirement plan products and services, life insurance, annuities and employee benefit plan products. The company helps consumers prepare for tomorrow by helping to protect their financial futures.

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.