Annuity Board launches new services
___By Jerilyn Armstrong
___SBC Annuity Board
___DALLAS (BP)--On Aug. 27, AB Funds Trust, an expanded family of mutual funds sponsored by the Annuity Board of the Southern Baptist Convention, became operational.
___"The day has arrived, and we are ready to move forward into this new arena," said O.S. Hawkins, Annuity Board president during a morning celebration at the Dallas-based agency. "This is a historic day in the life of the Annuity Board, and I am grateful to our trustees and our staff for their diligence and 'extra mile' effort to be ready for this conversion. The implementation of new products and services allows us to serve our participants in additional ways.
___With the new services, Hawkins said, the Annuity Board can assist bivocational pastors who want to roll over retirement funds from a secular employer or institutional employees who want to open an IRA or roll over a retirement account from a previous employer. Likewise, the Annuity Board now will be able to assist a pastor who receives an inheritance and needs a place he trusts to invest his money in a personal savings account.
___Annuity Board participants and other eligible investors now may open IRAs and Personal Investment Accounts by purchasing shares of AB Funds Trust through PFPC Distributors Inc., a registered broker dealer and underwriter of the funds. SBC Trust Services, an affiliate of the Annuity Board, serves as the IRA custodian. SBC Financial Services Inc., also an Annuity Board affiliate, serves as the investment adviser to the funds.
___Eligible investors include participants in all Annuity Board plans, those eligible to participate in Annuity Board plans, annuitants and spouses of all these groups.
___"This is a watershed event in the life of the Annuity Board and its participants," said Roddy Cummins, Annuity Board executive officer and vice president of AB Funds Trust. "Entering a registered environment is a tremendous achievement and one that enhances our products and goals for the benefit of all our participants in the years to come."
___For more information about AB Funds Trust, including charges and expenses, call (800) 262-0511 to request a prospectus. Annuity Board officials advise potential investors to read it carefully before investing or sending money.
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