Chicago’s Metropolitan Pier and Exposition Authority Selects AXA as Retirement Services Provider
NEW YORK--(BUSINESS WIRE)-- AXA, a leading financial protection company, was selected by the Metropolitan Pier and Exposition Authority (MPEA) as the retirement services provider for its 401(a) and 457(b) plans. The plans include approximately $26.7 million in assets combined.
A municipal corporation created by the Illinois General Assembly, MPEA is the owner of McCormick Square, McCormick Place, which is the largest convention center in North America, Hyatt Regency McCormick Place, Wintrust Arena and Marriott Marquis Chicago.
“We are honored MPEA has selected us as the services provider for its retirement plans,” said Keith Namiot, Chief Operating Officer of Group Retirement for AXA US. “We are committed to educating MPEA’s employees on how they can work toward achieving financial stability and retirement security, and look forward to serving them for years to come.”
AXA Equitable provides comprehensive recordkeeping services through AXA Retirement 360SM, its open-architecture defined contribution mutual fund platform that also features a group fixed annuity contract. Designed for 401(k), 403(b), 457(b) and 401(a) plans, AXA Retirement 360SM is tailored specifically for plan sponsors’ and their employees’ needs. The program provides personalized guidance, access to fiduciary protection and is supported by a dedicated US-based customer service team.
As leading providers of retirement, insurance and investment strategies, the companies under the AXAU.S. brand name help empower their customers to live better lives. Established in 1859, AXA Equitable now has 2.5 million customers nationwide. More than 4,700 AXA Advisors Financial Professionals create strategies to help individuals, families and small business owners move forward with confidence on their road to financial security. AXAU.S. is a brand name of AXA Equitable Financial Services, LLC and its family of companies, including AXA Equitable Life Insurance Company (AXA Equitable), MONY Life Insurance Company of America (MLOA) (AZ stock company, administrative office: Jersey City, NJ), AXA Advisors, LLC (member FINRA, SIPC) and AXA Distributors, LLC. AXAU.S. is part of the global AXA Group, a worldwide leader in financial protection strategies and wealth management, with 107 million clients in 64 countries. The obligations of AXA Equitable and MLOA are backed solely by their claims-paying ability. Find AXA on Facebook, Twitter and LinkedIn. For more information, visit www.axa.com.
Mutual funds are subject to market risk, including loss of principal. Clients must consider the charges, risk, expenses, and investment objectives carefully before purchasing a mutual fund. For a prospectus containing this and other information, clients should contact a Financial Professional. They should read it carefully before investing or sending money. This press release does not constitute investment advice, nor does it make a direct or indirect recommendation of any particular product or investment option. Annuities are long-term products used for retirement purposes and contain certain limitations and restrictions. The AXA Retirement 360SM defined contribution program consists of a custodial account offered through Reliance Trust Company, LLC, within which plan participants’ chosen mutual fund shares are held, as well as a group fixed annuity contract (Generic Form Number 2016FA-MFrev, 2016FA-MF403b) issued by AXA Equitable Life Insurance Company (“AXA Equitable”). Mutual funds made available through the program are distributed by AXA Distributors, LLC (“AXA Distributors”). AXA Equitable and AXA Distributors are located at 1290 Avenue of the Americas, New York, NY 10104, (212) 314-4600. AXA Equitable is solely responsible for meeting the obligations of the group fixed annuity contract. Offered by affiliated and unaffiliated entities, the program is the result of various strategic partnerships, including one between AXA Distributors, LLC and PlanConnect, LLC. AXA’s Group Retirement platform includes recordkeeping, trading and custodial services to plan sponsors for the program. Reliance Trust Company serves as custodian of mutual funds selected by plan participants. PlanConnect, LLC, serves as the platform’s recordkeeper and third-party administrator. AXA Retirement 360SM is a service mark of the contractual arrangements between affiliated and/or unaffiliated entities within the platform; PlanConnect® is a registered service mark of PlanConnect, LLC (100 Madison Street, Syracuse, NY 13202. (800) 923-6669). AXA Equitable, AXA Distributors, and PlanConnect, LLC are separate but affiliated companies. Reliance Trust Company is a separate and unaffiliated company. The investments in this program are subject to investment risks, including possible loss of the principal invested. They are not insured by the Federal Deposit Insurance Corporation nor are they deposits to, obligations of, or guaranteed by any bank.