SOURCE: Security Benefit

Security Benefit

April 25, 2011 09:00 ET

Security Benefit, a Guggenheim Partners Company, Launches Personal Retirement Savings Initiative With EliteDesigns®

The Right Product at the Right Time to Target Retirement Savings Market

NEW YORK, NY--(Marketwire - Apr 25, 2011) - Security Benefit, a Guggenheim Partners Company, today launched EliteDesigns® as the inaugural product for its new Personal Retirement Savings (PRS) initiative. EliteDesigns combines a tax-deferred variable annuity with 200 well-recognized investment options for Registered Investment Advisors (RIAs) and other fee-based advisors and their clients.

The EliteDesigns variable annuity leverages the advantages of an insurance product with the power of a diverse investment platform. EliteDesigns is structured to suit a variety of investment strategies that can meet an expansive array of risk and reward objectives. From a relatively passive but well-diversified buy-and-hold investment program, to a progressive core and satellite model, to a highly sophisticated tactical strategy, EliteDesigns offers a broad range of asset classes and a portfolio of well-known asset managers. For the investment options that permit active trading, there are no trading limits and no redemption fees. Complete product details are available online at

"EliteDesigns takes dead aim at baby boomers critical need to play catch-up for retirement savings," said Michael Kiley, Senior Managing Director, Guggenheim Partners. "This launch marks the first of many outstanding additions to the Security Benefit portfolio of retirement products. By leveraging the powerful combination of Guggenheim Partners' global financial services footprint with Security Benefit's innovative product design targeting the retirement savings market, we expect a strong appetite for these unique investment vehicles."

Jim Mullery, Security Benefit Senior Vice President and President for the PRS Group, recently met with associates to discuss how the advisor was central to the development of EliteDesigns.

"EliteDesigns was created from the outset with RIAs and Financial Advisors in mind," said Mullery. "We have a national coverage model represented by eight sales professionals with deep investment and insurance experience as well as a fully staffed sales desk to provide high quality support and service to advisors. In addition, we are confident that our sophisticated on-line trading platform and account opening application will make it easy for advisors to work with us."

Mullery went on to add, "Our industry is changing at an incredible pace. As such, it's our responsibility to provide investors and advisors with a solid, compelling and easily understood variety of options to help grow their retirement savings. Security Benefit has a long and storied history in the business, and coupled with the expertise and vision of Guggenheim Partners, I believe we have many innovative milestones ahead."

Variable annuities are long term investments suitable for retirement investing. While taxes on amounts invested in a variable annuity are deferred until withdrawn, withdrawals are subject to ordinary income tax and, if made prior to age 59½, may be subject to a 10% IRS penalty tax. Conversely, earnings from investments that do not offer tax deferral are taxed currently, and withdrawals from such an investment are not subject to the penalty tax.

You should consider the investment objectives, risks, and charges and expenses of the investment options available under the Variable Annuity carefully before investing. You may obtain a prospectus that contains this and other information about the investment options or Variable Annuity by calling our Service Center at 1-800-888-2461. You should read the prospectus carefully before investing. Investing in variable annuities involves risk and there is no guarantee of investment results.

The EliteDesigns variable annuity is a flexible purchase payment deferred variable annuity distributed by Security Distributors, Inc. (SDI). In all states except New York, EliteDesigns (form V6029) is issued by Security Benefit Life Insurance Company (SBL). In New York, EliteDesigns (form FSB242 (1-07)) is issued by First Security Benefit Life Insurance and Annuity Company of New York (FSBL), Rye Brook, NY. SBL is not authorized to and does not transact the business of insurance in the state of New York. SDI is a wholly-owned subsidiary of SBL. SBL and FSBL are wholly-owned subsidiaries of Security Benefit Corporation (Security Benefit). Security Benefit is indirectly controlled by Guggenheim Partners, LLC.

EliteDesigns may not be available in all states. The obligations under the EliteDesigns Variable Annuity are solely those of the issuing insurer and no other entity.

About Security Benefit
Security Benefit fosters strong partnerships to provide insightful and customized retirement solutions for employers and individual investors nationwide. Through a broad advisor network and its nationally recognized money managers, Security Benefit provides mutual funds, annuities, exchange traded funds, broad retirement plans and programs. As an industry leader in service technology, Security Benefit affiliates also offer business processing and broker/dealer solutions tailored to the financial services marketplace. For more information about us, visit

About Guggenheim Partners
Guggenheim Partners, LLC is a privately held global financial services firm with more than $100 billion in assets under supervision including management of assets of approximately $80 billion. The firm provides investment management, investment banking and capital markets services as well as insurance and investment advisory solutions for institutions, corporations, governments and agencies, investment advisors, family offices and individuals. Guggenheim Partners is headquartered in New York and Chicago and serves clients from more than 22 offices in nine countries. For more information, please visit

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