Security Benefit Expands Its Flexible Retirement Platform With New App and Enhanced Service Capabilities
Small plans especially benefit from the new range of digital offerings
Security Benefit announced the expansion of its retirement plan service platform with a broad set of new digital enhancements, among them is its new My Security Benefit app and SmartChoice open architecture platform. The app is now available in the App Store and on Google Play.
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“We believe it is essential to address wellness for our customers in a broad, holistic sense”
“While this has been a time when many companies have taken a step back or paused in the retirement space, we have been moving forward and upgrading our service capabilities to improve the experience and ease-of-use for retirement plan participants,” said Doug Wolff, senior vice president of Security Benefit Corporation (Security Benefit). “We believe our platform offers plan sponsors and financial professionals a powerful, flexible suite of solutions to help meet the challenges they face in today’s environment.” Small plans in particular may benefit from access to capabilities that have typically been available to larger companies.
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The My Security Benefit mobile app gives participants on-the-go access to their mutual fund retirement accounts. The app offers a number of features that make retirement planning easier, including the ability to:
- Calculate and estimate retirement income needs based on individual goals
- View account holdings and track activity real time
- Track investment performance and update investment allocations
- Analyze different investment scenarios and the impact on retirement readiness
- Improve financial and health literacy through a comprehensive wellness feature
A unique feature of the app is the library of health and financial wellness articles and brief, online classes. Participants have the ability to earn rewards* for gift cards to well-known retailers nationwide just by reading the materials. Content covers financial and personal well-being and can be tailored to one’s lifestyle, financial skill and interests. “We believe it is essential to address wellness for our customers in a broad, holistic sense,” noted Greg Kratz, Head of Mutual Fund Platforms at Security Benefit. “You can even link your fitness tracker to hit goals and earn rewards. We want customers to think about their overall well-being as they look to and through retirement.”
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