SOURCE: Security Benefit

Security Benefit

November 09, 2011 10:40 ET

Veteran Sales Executive Joins Security Benefit Management Team

Michael Reidy Signs on as National Sales Manager for Personal Retirement Savings

TOPEKA, KS--(Marketwire - Nov 9, 2011) - Security Benefit Corporation, a Guggenheim Partners Company, today announced that Michael Reidy has accepted the position of National Sales Manager for the firm.

Mr. Reidy, who has more than 25 years of Wall Street experience, will be responsible for Security Benefit's RIA and Fee Based channel. In that capacity he will oversee distribution of the firm's EliteDesigns® Variable Annuity product.

He will be based in Topeka and New York and report to Jim Mullery, President of Security Benefit Distributors.

"We think EliteDesigns is one of the most innovative products to hit the variable annuity space in a long time," says Mr. Mullery, "and I'm excited at the prospects of Mike and his team taking the story to the marketplace. We're moving into a new era at Security Benefit and Mike's experience is perfectly suited to managing that process."

Previous to his new role, Mr. Reidy was a Managing Director Rydex | SGI in New York. In that capacity, he was responsible for distribution of the firm's Variable Insurance Trust and management of client business. Previously, he served as Vice President, National Sales Manager Wirehouses and Regional Firms for Columbus-based Nationwide Mutual where he was responsible for distribution of variable annuities, pensions, life insurance, and mutual funds.

Mr. Reidy earned his BA from Iona College in New Rochelle, NY.

Security Benefit is a leading provider of retirement plan services for more than 200,000 accounts throughout the nation, primarily in the K-12 education marketplace. The firm today has approximately $38 billion in total assets under management and 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 fixed and variable 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 www.securitybenefit.com.

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.

Annuities are long-term investments suitable for retirement planning.

You should consider the investment objectives, risks, and charges and expenses of the mutual funds and 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 the Service Center at 1-800-888-2461. You should read the prospectus carefully before investing. Investing in mutual funds and variable annuities involves risk and there is no guarantee of investment results.

In all states except New York, the EliteDesigns Variable Annuity (form V6029) is a flexible purchase payment deferred variable annuity issued by Security Benefit Life Insurance Company (SBL). In New York, the EliteDesigns Variable Annuity (form FSB 242 (1-07)) is a flexible purchase payment deferred variable annuity issued by First Security Benefit Life Insurance and Annuity Company of New York (FSBL), Rye Brook, NY. SBL is not authorized in and does not transact insurance business in the state of New York. Securities are distributed by Security Distributors, Inc. (SDI). SDI is a subsidiary of SBL and SBL, FSBL and Rydex | SGI are wholly owned by Security Benefit Corporation ("Security Benefit"). Security Benefit is indirectly controlled by Guggenheim Partners, LLC. EliteDesigns may not be available in all states. As the issuer of EliteDesigns, the obligations under the Variable Annuity are solely SBL's (and no other entity's).

In all states except New York, guarantees are subject to the claims-paying ability of Security Benefit Life Insurance Company. In New York, guarantees are subject to the claims-paying ability of First Security Benefit Life Insurance and Annuity Company of New York.

The investment return and principal value of an investment in the EliteDesigns Variable Annuity will fluctuate and you may have a gain or loss at redemption.

Not a deposit. Not FDIC insured. Not insured by any federal government agency.

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