Local Unions Savings & Retirement Plan
Scarborough Advantage variable annuity
The Scarborough Advantage variable annuity program is offered through our partnership with Security Benefit Life Insurance Company.
The Scarborough Advantage variable annuity offers a fixed income account as well as a diversified list of variable subaccounts, with no sales or surrender charges.
The Scarborough Advantage, exclusively for IBEW members and their families, offers tax-deferred growth on your savings and investments. This product may be a solution for working members who are looking to save additional money beyond 401(k) and IRA limitations. It has also provided a solution for those seeking tax-deferred growth on accumulated assets, proceeds from a home sale, or inheritance.
With the Scarborough Advantage variable annuity, your retirement strategy can include the key elements you’ll need toward a successful retirement:
- Professional money management
- Unlimited lump sum deposits
- Scheduled automatic investments from your checking account
- Investment diversification
- Tax deferred growth
- Retirement planning assistance
Get more information about the Local Unions Savings & Retirement Plan:
Investors should consider the investment objectives of the variable annuity carefully before investing. An investment in a variable annuity involves investment risk, including possible loss of principal. Variable annuities are designed for long-term investing. The contract, when redeemed, may be worth more or less than the total amount invested. Variable annuities are subject to insurance related charges including mortality and expense charges, administrative fees, and the expenses associated with the underlying funds. Withdrawals prior to age 59 ½ may result in a 10% IRS tax penalty, in addition to any ordinary income tax. The guarantee of the annuity is backed by the financial strength of the underlying insurance company. Investment sub-account value will fluctuate with changes in market conditions.