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CUNA Mutual Group updates retirement statements

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...

By Staff Writer | Updated on July 10, 2001

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.

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