SEI Investments has been selected to manage the deferred contribution retirement plan for Beneficial Life Insurance Company’s agents. SEI will provide Beneficial Life Insurance Company with fully integrated consultative services, customized global investment management, record keeping, employee education and administrative services for this plan.
“Due to continued volatility in the investment marketplace, a desire to expand investment diversification, and an increasing demand on their time to manage the plan, Beneficial Life Insurance Company decided to change their traditional approach to plan management and use SEI’s total pension management process,” said Jeff Jacobs, SEI Managing Director, Insurance Market Unit. “Through SEI’s integrated retirement solution, Beneficial Life Insurance Company will be able to increase the control of their plan while spending less time and resources managing the individual pieces of the process. In addition, SEI’s solution will provide the Beneficial Life Insurance Company trustees with enhanced fiduciary services, administrative efficiencies, and controlled costs.”
The plan’s assets will be managed through SEI’s manager-of-managers program.