Mesirow Financial

Mesirow Financial selects the workplace retirement investment line-up from Security Benefit’s group retirement platform. 

Employers are ultimately held responsible for the investment options offered within their retirement plan. But, ERISA law does allow for that responsibility to be transferred to an independent third-party.

The Security Benefit workplace retirement program transfers your investment fiduciary obligation and the associated liability to Mesirow Financial, an independent investment manager. Mesirow Financial is experienced in interpreting fiduciary requirements and contractually agrees to become the 3(38) fiduciary for your plan.  

Features with Mesirow Financial that make a difference:

  • Assume Full discretion for selecting, monitoring and (when appropriate) replacing the investment options
  • Build a carefully crafted investment line-up appropriate for a retirement plan
  • Assume responsibility in the event of certain third-party lawsuits related to the investment management

The Mesirow Financial Police Report

Mesirow Financial continuously monitors all investment options within Workplace ERISA and SecurePoint Retirement program. Each quarter, they provide you a summary of quantitative and qualitative information about the investment options in a report called the Mesirow Financial POLICE Report. This report is a six category watch list, which monitors issues regarding:

Performance — ranks all funds versus their appropriate peers

Organization — tracks personnel and ownership changes

Legal — discloses lawsuits, settlement, or regulatory issues

Investment Policy — identifies changes in strategy and /or operations

Consistent Style — pinpoints all style issues based on historical returns

Expenses — provides a fee comparison to a peer group average to assess the competitiveness

Legal Protection

As clearly defined in the Plan Sponsor agreement, Mesirow Financial will perform and defend its duties and obligations with respect to investment option selection and monitoring in compliance with ERISA. This agreement protects the sponsor from certain third-part lawsuits arising from issues regarding investment option selection and monitoring.

Security Benefit and its subsidiaries are not affiliated with Mesirow Financial or Financial Soundings, LLC.

The Security Benefit Workplace Retirement Program for ERISA Plans (CS) 401(k) and 401(a) products are Trust Accounts under §401 of the Internal Revenue Code. The Security Benefit Workplace Retirement Program for ERISA Plans (CS) 403(b)(7) ERISA product is a Custodial Account under §403(b)(7) of the Internal Revenue Code. The Security Benefit Workplace Retirement Program for ERISA Plans (CS) 457(b) Tax Exempt product is a Trust Account under §457(g) of the Internal Revenue Code.

Services are offered through and securities are distributed by Security Distributors, a subsidiary of Security Benefit Corporation (Security Benefit).