CUNA Mutual Launches CU Preferred Choice 401(k) Plan

MADISON, Wis. – CUNA Mutual Group has launched a new 401(k) plan that allows for a customized plan consisting of six core funds, three lifestyle allocation funds, and up to 12 investment choices to be selected by plan participants The CU Preferred Choice provides access to more than 40 funds in the market and gives credit unions a custom template to build from. Once the plan is created, credit unions actively manage the investment portfolio and make necessary changes during the life of the plan, said Tom Eckert, senior vice president of pensions at CUNA Mutual. Other features include employee enrollment meetings delivered through the Web, face-to-face, or CD-ROM; online statements and account access and resources offering the latest information on pension and legislation trends. CUNA Mutual manages more than 5,000 pension and 401(k) plans and according to company data, it is the 12th largest retirement plan administrator in the nation.