MADISON, Wis. – CUNA Mutual Group will begin sending out revamped retirement account statements this month to some 60,000 CU employees, or about 35% of full-time staffers in the nation's CUs. Most of the 60,000 retirement account holders are participants of 401(k) plans, with others participants in money purchase and profit sharing plans. CUNA Mutual Group is the largest provider of retirement accounts in the CU industry. CUNA Mutual says the statements are designed to help employees get a complete picture of their accounts. New features include the following: * A bar chart that shows the trend in the employee's account over the last four quarters; * A breakdown of the employee's holdings by investment account; * An investment breakdown for the statement period, according to the employee's contribution and the credit union's contribution; * A plan year contribution overview for the current plan year; * An overview of investment performance for the current quarter; for the year-to-date; and for one, three, five and 10-year periods. Credit union employees with questions about the new statements can call CUNA Mutual's Pension Response Center at (800) 999-8786, option 3.
Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.
Your access to unlimited BenefitsPRO content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.