Guardian’s New Website Addresses the Question: What Am I Getting?

NEW YORK--(BUSINESS WIRE)-- The Guardian Insurance & Annuity Company, Inc. (GIAC), a wholly-owned subsidiary of The Guardian LifeInsurance Company of America (Guardian) today announced the launch of a new website to help plan sponsors and plan participants navigate the increasingly complex 401(k) marketplace.

Effective July 1, 2012, The Department of Labor’s (DOL’s) new requirements for plan service providers to begin providing plan sponsors with enhanced fee disclosure went into effect. Guardian Retirement Solutions^™launched Understanding Plan Fees (www.guardianretirement.com/understandingfees) to provide information and tools to help plan participants and plan sponsors understand their retirement plan fees, the services they pay for and the value the different service providers bring to the table. The website is open to any individual or company.

“Simply providing a statement without any explanation has the potential to confuse and frustrate plan participants. Guardian’s website educates the consumer by providing information on not only the fees they are paying but the services and value that different players involved in administering a 401(k) provide,” said Jason Frain, Vice President, 401(k) Product Management and Development, Retirement Solutions. “At the end of the day, it’s important for sponsors and participants to understand who is working on their behalf to ensure they have a tax-deferred benefit to save for retirement.”

The Guardian website includes a host of tools and educational resources, including:

• High-level information on the new fee disclosure rules
• Describes the various service providers and specialists associated with the administration of 401(k) plans and what they do.
• Interactive annotated statements and comparative charts to help participants understand and better comprehend the information they will receive
• Definitions of key terms plan sponsors and participants will need to know.
• General retirement planning education and tips.

Shortly following the changes on July 1, plan sponsors will begin providing their participants with annual and quarterly information about plan and investment fund fees and expenses. Fee disclosure focuses on the DOL’s initiatives to increase transparency surrounding plan and investment expenses as they impact plan sponsors and participants.

“It’s impossible to assess the fees on your 401(k) statement unless you understand the services different providers are performing. Guardian’s Understanding Plan Fees (www.guardianretirement.com/understandingfees) lays out in plain English the team of players who each provide unique services and expertise to create a great retirement solution,” said Frain. “. In the final analysis, it’s important to understand the value you receive for the fees you pay.”

About Guardian

A mutual insurer founded in 1860, The Guardian Life Insurance Company of America and its subsidiaries are committed to protecting individuals, business owners and their employees with life, disability income, dental insurance products, and offer funding vehicles for 401(k) plans, annuities and other financial products. Guardian operates one of the largest dental networks in the United States, and protects more than six million employees and their families at 115,000 companies. The company has approximately 5,000 employees in the United States and a network of over 3,000 financial representatives in more than 80 agencies nationwide.

For more information about Guardian, please visit: www.GuardianLife.com

GIAC is a wholly owned subsidiary of The Guardian Life Insurance Company of America (Guardian), New York, NY. Guardian does not issue the The Guardian Choice^® and The Guardian Advantage^® and does not guarantee the benefits they provide. GIAC is a wholly owned subsidiary of The Guardian Life Insurance Company of America (Guardian), New York, NY.

Guardian Retirement Solutions^™ refers to the administrative support services, including participant recordkeeping as well as marketing, enrollment and educational materials, provided by GIAC in conjunction with the individual and group retirement products issued by GIAC.

For Media Inquiries:
The Guardian Life Insurance Company of America
Kristin Meza, 212-919-2158
kristin_meza@glic.com
or
Harden Communications Partners
Erin Burke, 631-239-6903
eburke@hardenpartners.com

Source: The Guardian Life Insurance Company of America