TUPELO, Miss., April 16, 2012 /PRNewswire/ -- Renasant Employee Benefit Solutions (R.E.B.S.), a division of Renasant Bank headquartered in Tupelo, MS, has been recognized by MyPlanIQ, a retirement investment information and rating company, as having a 100% fund quality rating as of March 31, 2012. R.E.B.S. model portfolio resulted in Renasant Bank's 401(k) plan being rated the highest among thousands of 401(k) and annuity retirement plans that MyPlanIQ ranks. R.E.B.S. provides retirement plan services, such as 401(k) plans, to a wide variety of businesses and organizations.
"MyPlanIQ performs rigorous quantitative evaluation on investment funds available in hundreds of thousands of retirement plans in our database. We derive a plan's rating using three metrics: diversification, fund quality and portfolio building capability," said John Zhong, CEO & Founder of MyPlanIQ. "We are pleased to see that Renasant's 401(k) program attains the highest fund quality score as well as an excellent plan rating. As more and more Americans rely on investments in their retirement plans to fund future retirement needs, a well designed retirement plan such as Renasant's 401(k) becomes more important."
"We believe that due diligence and manager selection are important sources of alpha in a well designed portfolio strategy," said Rocky Miskelly, Renasant Director of Wealth Management and Executive Vice President.
All of the funds within the 401(k) platform are institutional funds that have undergone a rigorous screening process. By using exclusively institutional funds, Renasant is able to refuse compensation from mutual fund providers thereby removing any conflict of interest when selecting funds to be used within the portfolio.
"Our 401(k) program is highly diversified across asset classes and is derived from multiple fund families," said Miskelly. "Furthermore, our proprietary process of selecting funds gives Renasant's clients a plan with funds that meet the highest fiduciary standards set by the Center for Fiduciary Studies."
For more information on R.E.B.S. and other Renasant wealth management solutions, contact Cathy Fitzpatrick at (662) 680-1207 or [email protected]. For more information on My Plan IQ, please visit www.myplaniq.com.
ABOUT RENASANT CORPORATION:
Renasant Corporation is the parent of Renasant Bank and Renasant Insurance. As of December 31, 2011, Renasant had assets of approximately $4.2 billion and operates over 75 banking, mortgage, financial services and insurance offices in Mississippi, Tennessee, Alabama and Georgia.
MyPlanIQ is an online application and information portal for retirement investments. It provides ratings and asset allocation portfolios for retirement plans. MyPlanIQ regularly publishes news and articles on topics including portfolio buildings, ETF/mutual funds, retirement planning and personal finance. It is based in Los Altos, California.
CONTACT: John Oxford
Phone (662) 680-1219
SOURCE Renasant Corporation