Symetra Introduces ‘Retirement Passport’ for 403b and 457 Savings Plans

Symetra® Life Insurance Company today launched Retirement Passport Group Variable Annuity for the 403(b)/457 market.

Retirement Passport (Passport) was designed with schools and nonprofits in mind. The tax-deferred solution offers a wide array of competitively priced and professionally managed portfolio options from some of the biggest names in the business, including American Funds,1 Fidelity and Vanguard. It also gives participants access to funds that invest exclusively in socially and environmentally responsible companies. Passport's initial fund lineup includes 60 portfolio options from 13 well-known money managers.

Passport will be available to individuals through their employer - a school district, university, hospital or other nonprofit organization. Product features include contribution minimums as low as $30; free annual withdrawals up to 10 percent of the participant account value per certificate year; and multiple retirement income options.

"Symetra has provided options for 403(b) and 457 retirement plans for many years. Passport enhances our product portfolio to address the changing needs of this specialized market," said Richard Lindsay, senior vice president of the Life and Annuities division at Symetra. "With Passport, we're delivering a competitive product and demonstrating our ongoing commitment to schools and nonprofits."

The company's increased focus on the 403(b) marketplace comes at a time when K-12 school districts face significant challenges in offering retirement benefits. The economic recession and dwindling budgets have squeezed district benefit programs. Districts are under pressure to comply with new 403(b) rules and deadlines, and they are looking for help from providers committed to this marketplace. In addition, many retirement plan providers that previously handled 403(b) accounts have walked away from the market, leaving employers with fewer retirement plan options.

"With a team fully dedicated to the 403(b) business - including experts to offer plan design and compliance coaching, experienced service personnel to answer customer and distributor questions, and SPARK file reporting capability - Symetra is positioned to be a 'go to' resource for advisors and third-party administrators serving the education retirement market," said Lindsay. About Symetra Financial Symetra Financial Corp. and its subsidiaries provide employee benefits, annuities and life insurance through a national network of benefit consultants, financial institutions and independent agents and advisors. Headquartered in Bellevue, Wash., Symetra and its subsidiaries have more than $22 billion in assets.2 For more information, visit www.symetra.com. Before investing, clients should carefully consider the investment objectives, risks, charges and expenses. This and other information is contained in the contract prospectus and the underlying portfolio prospectuses. Clients should contact their Registered Representative or Symetra for free copies of the prospectuses and read them carefully before investing. Symetra Retirement Passport Group Variable Annuity is a flexible premium deferred registered group variable annuity issued by Symetra Life Insurance Company. Contract form number in most states is RSC-0089 7/09.

Securities are offered through Symetra Securities, Inc. ("SSI"), member SIPC. Variable annuities are issued by Symetra Life Insurance Company ("SLIC") and are not available in all U.S. states or any U.S. territories. SSI, SLIC and Symetra Financial are affiliates and are located at 777 108th Ave. NE, Suite 1200, Bellevue, WA 98004-5135.

Variable annuities, which are suitable for long-term investing, are subject to market risks, including the potential loss of principal invested.

Tax-deferred investments such as variable annuities can have fees associated with them, such as fund charges, sales charges and administrative fees that should also be taken into consideration. In addition, withdrawals from a tax-deferred account may be subject to ordinary income tax and a 10 percent federal tax penalty may also apply to amounts withdrawn prior to age 59 1/2. Surrender charges may apply if the withdrawal is made during the early years.

While non-qualified annuities offer the added benefit of tax deferral, in the case of qualified annuities, the tax deferral is provided by the retirement plan itself. The investor should focus on the benefits offered by a variable annuity to assess if a variable annuity is right for them.

® Vanguard is a registered trademark of The Vanguard Group.

Symetra® is a registered service mark of Symetra Life Insurance Company. 1 Not available to participants in 456(f) plans or non-governmental 457(b) plans. 2 Total GAAP assets at Sept. 30, 2009.

AORS-305 12/09