Oneamerica, Mesirow Financial Announce Rollout of 3(38) Flex

INDIANAPOLIS, Oct. 16 -- OneAmerica Financial Partners, a provider of insurance and financial services, issued the following news release:

In collaboration with Mesirow Financial Investment Management, Inc., OneAmerica announced today announced the debut of 3(38) Flex as an option for retirement plan sponsors to ease their fiduciary burden while allowing clients to retain their preferred fund choices.

"Because we understand the importance of selecting investments that are appropriate for each retirement plan, we're again expanding our services to help financial professionals and plan sponsors offer a quality retirement plan for attracting and retaining employees," said Terry Burns, assistant vice president of Products and Investments for OneAmerica Retirement Services. "It's another tool in our tool belt. It makes our fiduciary options more robust."

OneAmerica fiduciary support options already offer 3(21) Standard and 3(21) Auto Execute as well as 3(38) Standard, all through Chicago-based Mesirow Financial. The idea behind 3(38) fiduciary protection, created as part of the Employee Retirement Income Security Act of 1974 ("ERISA"), is to transfer risk, putting fund decisions in the hands of qualified professionals instead of plan sponsors, reducing liability. With standard 3(38), plan sponsors select their plan utilizing a Mesirow-built investment lineup as opposed to researching and selecting their own fund lineup. Mesirow continues to monitor those funds on behalf of the plan sponsor.

The 3(38) Flex extends to plan sponsors the ability to maintain their existing fund line-up. Mesirow reviews both the line-up's asset classes and investments and, if both meet Mesirow's criteria, they will approve the lineup. The 3(38) Flex is optimized for new and existing customers and was created as result of industry demand.

"The custom approach allows advisors and sponsors seeking to elect 3(38) coverage to do so with an eye towards minimizing disruption to the existing lineup," said Michael Annin, Senior Managing Director at Mesirow.

Added Pat Foley, OneAmerica president of Individual Insurance and Retirement Services, "At OneAmerica, we continue to ask how we can best serve those who depend on us, and we are committed to finding innovative solutions."

OneAmerica is the marketing name for the companies of OneAmerica. Products issued and underwritten by American United Life Insurance Company (AUL), a OneAmerica company. Administrative and recordkeeping services provided by McCready and Keene, Inc. or OneAmerica Retirement Services LLC, companies of OneAmerica which are not broker/dealers or investment advisors.

Mesirow Financial is not an affiliate of any OneAmerica company and is not a OneAmerica company.

About Mesirow Financial

Mesirow Financial is an independent employee-owned firm founded in 1937. As specialists in investment, risk management and advisory services, they are committed to helping our institutional, corporate and individual clients achieve their objectives. Their professionals are inspired by an entrepreneurial desire to develop tailored solutions designed to deliver measurable results. Advisory services offered through Mesirow Financial Investment Management, Inc., an SEC registered investment advisor. To learn more, please visit mesirowfinancial.com.