Aviva Life Insurance Company announces its entrance into the 457(b) governmental plan market with three flexible premium deferred annuities.
Aviva Life Insurance Company (Aviva) announces its entrance into the 457(b) governmental plan market with three flexible premium deferred annuities. Salary reduction and transfers from other 457(b) plans can now fund Aviva’s 457(b) plan products – Flex 9, Aviva Flex Select and Aviva Flex Plus, a premium bonus product. In addition, two Aviva fixed indexed annuities will be available for the 457(b) governmental plan market in the second quarter of this year.
“With the help of Aviva’s 457(b) plan products, a wide range of public school and other government employees can maximize – and in many cases double – their tax-deferred contributions,” said Holly Burgess, Aviva’s vice president of TSA marketing.
“In 2006, these employees age 50 and older can contribute up to $20,000 to their 403(b) plan, plus up to $20,000 to their 457(b) plan. And, Aviva provides employers with the flexibility of adding us to an existing plan document or using Aviva’s plan document at no charge.”
Typical 457(b) customers have contributed the maximum amount to their 403(b) plan and/or 401(a) plan, or have a spouse with no access to a tax-deferred savings plan. Highly compensated employees, such as superintendents, business officials, other administrators, principals and supervisors, can greatly benefit from the 457(b) funding option on Aviva’s flexible premium deferred annuities.
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For more information:
Robert Perkoski
Senior Marketing Consultant
Aviva Life Insurance Company
888-284-8287, ext. 6199
rperkoski@avivausa.com
Notes to editors:
Aviva Life Insurance Company and its wholly owned subsidiary, Aviva Life Insurance Company of New York, are subsidiaries of London-based Aviva plc. Aviva plc has roots dating back to 1696 and is one of the 10 largest insurance groups in the world. One of the fastest-growing US life insurers, Aviva Life Insurance Company offers a competitive portfolio of fixed life insurance and annuity products through select independent agents, banks and brokers.