SOURCE: Security Benefit

Security Benefit

November 07, 2011 12:27 ET

Security Benefit® Selected for Omni® Group Preferred Provider Program

Kansas-Based Insurer Makes Select List of New York State Retirement Service Providers

TOPEKA, KS--(Marketwire - Nov 7, 2011) - Security Benefit Corporation, a Guggenheim Partners Company, today announced the firm has been selected by The Omni Group, the leading third party administrator in the state of New York, for its 403(b) Preferred Provider Program (P3).

Omni's new service model features service providers that meet certain key standards that have been deemed to be highly desirable by an independent committee of 403(b) plan sponsors.

Topeka-based Security Benefit is a leading provider of retirement plan services for more than 135,000 accounts throughout the nation, primarily in the K-12 education marketplace. The selection by The Omni Group immediately expands the firm's presence among New York's 500-plus school districts.

"The Omni Group is well known for its focus on providing the best possible compliance and remittance services to its clients," said Mike Kiley, Security Benefit's chief executive officer, "so we're flattered to be recognized as one of their preferred partners. It tells us we're doing a lot of things right from a business perspective."

P3 was the result of an Omni initiative that brought together an advisory committee of plan sponsors throughout New York State. The committee identified key criteria for service providers that were of paramount importance to both plan sponsors and participants before issuing a Request for Information to all Service Providers that chose to apply for consideration. The responses were then reviewed by the committee to determine the 403(b) service providers that met or exceeded their criteria.

At the close of the evaluation period, a total of 21 Service Providers were selected by the Committee and accepted into the Preferred Provider Program. Initially, Omni will be offering P3 to New York employers.

"We've always been very different in that we only partner with independent advisors who live and work in their communities," says Jim Mullery, President of Security Benefit Distributors. "Now that Security Benefit is an approved provider on the Omni platform, these professionals can take Security Benefit's great products directly to their communities. This is absolutely a terrific opportunity for the firm, its advisors, and our customers in New York state."

Security Benefit was purchased less than a year ago by a group of investors led by Guggenheim Partners, a New York-based financial services firm with more than $125 billion in assets under supervision. The firm, itself with $38 billion in total assets under management, partners with 27,000 licensed and appointed financial planners and representatives through a network of 700 broker/dealers around the nation.

About Security Benefit
Security Benefit, a Guggenheim Partners Company, is a leading provider of retirement plan services throughout the nation, primarily in the education marketplace, and offers a variety of compelling and customized annuity products. The firm's se2 division is an award-winning and nationally recognized provider of administrative services for the insurance and financial services industry. To learn more, go to

About Guggenheim Partners
Guggenheim Partners, LLC is a privately held global financial services firm. 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 25 offices in nine countries.

Services are offered through and securities are distributed by Security Distributors, Inc., a subsidiary of Security Benefit Corporation ("Security Benefit").

Contact Information