Guardian Insurance & Annuity Company has expanded its capabilities as a retirement services provider.
The retirement services arm of The Guardian Life Insurance Company of America subsidiary has expanded its fund line-ups for two of its non-open-architecture by a total of 60 funds, providing exposure to active and passive funds in new market sectors.
Guardian added 27 new investment options to The Guardian Advantage and 33 options to The Guardian Choice. With the new additions, the two retirement plans now offer 101 and 111 investment options, respectively.
The new options actively managed and index-based funds from new asset classes and fund families including index, target-date and socially responsible funds, as well as large cap blend, large cap growth, multi-sector bond, emerging markets bond and sector funds.
All options are screened by SWBC Investment Advisory Services, an independent third-party registered investment advisor.
In a press release, Jason Frain, vice president of 401(k) product management and development for Guardian Retirement Solution, emphasized that Guardian's focus on offering flexibility plan sponsors flexibility in selecting their investments.
“Unlike many of our peers, GIAC does not require our clients to invest in proprietary funds, which provides plan participants with more options to create a retirement account that is uniquely suited to meet their goals," Frain said.