Newport Beach, Calif. – November 30, 2007 – Pacific Life Insurance Company has added a suite of variable annuities as a funding option for its Pacific Life Individual(k) Program. Originally launched in 2004 with five PL Portfolio Optimization Funds and 15 individual mutual funds, the program is a cost-effective 401(k) designed for selfemployed business owners and their spouses. For 2007, the IRS increased contributions limits of up to $45,000 annually.
The program will continue to offer Portfolio Optimization Funds — five asset allocation “fund of funds” to help investors diversify among management companies as well as asset classes. Both annuities and mutual funds can be used to pursue retirement goals, and each offers different features that aren’t necessarily shared by other investment products. The program will continue to allow self-employed investors flexibility and efficient administration.
“Our mutual funds have been well-received, and now, we’ve included our variable annuities as an investment choice due to the tremendous demand for asset protection, which is available through an annuity’s guaranteed benefits.” said Kathleen McWard, vice president of marketing, Annuities & Mutual Funds Division. “This addition of variable annuities as a funding option opens up the opportunity for self-employed business owners to diversify their investments for retirement within one Individual(k) program.”
Variable annuities are issued by Pacific Life Insurance Company and Pacific Life & Annuity Company. Portfolio Optimization Funds are offered by Pacific Life Funds.
Founded in 1868, Pacific Life provides life insurance products, annuities, and mutual funds and offers a variety of investment products and services to individuals, businesses, and pension plans.1 Pacific Life counts more than half of the 50 largest U.S. companies as clients2 and is a member of the Insurance Marketplace Standards Association (IMSA), whose membership promotes high ethical standards for the sale of individual life insurance and annuities.
1 Product features and availability vary by state.
2 Data compiled by Pacific Life using the FORTUNE 500® list as of April 2007.
This material is not intended to be used, nor can it be used by any taxpayer, for the purpose of avoiding U.S. federal, state or local tax penalties. This material is written to support the promotion or marketing of the transaction(s) or matter(s) addressed by this material. Pacific Life, Pacific Life & Annuity, Pacific Life Funds, their affiliates, distributor and respective representatives do not provide tax, accounting or legal advice. Any taxpayer should seek advice based on the taxpayer’s particular circumstances from an independent tax adviser.
You should carefully consider an investment’s risks, charges, limitations and expenses. This and other information about Pacific Life Funds, Pacific Life and Pacific Life & Annuity are provided in the applicable product and underlying fund prospectuses. These prospectuses are available from your registered representative or by calling (800) 722-4448. Read them carefully before investing.
Pacific Life Insurance Company, Pacific Life & Annuity Company, Pacific Select Distributors and Pacific Life Funds do not provide any Individual(k) or 401(k) plan administrative services. Please contact your plan administrator for any questions relating to your 401(k) plan. You should consult your tax adviser and attorney regarding your specific situation.
For information regarding administrative and recordkeeping services for the Pacific Life Individual(k) Program, call BISYS® Retirement Services at (800) 345-6363.
Share values will fluctuate and, when redeemed, may be worth more or less than the original cost.
IRAs and qualified plans — such as 401(k)s and 403(b)s — are already tax-deferred. Therefore, an annuity should only be used to fund an IRA or qualified plan to benefit from the annuity’s features other than tax deferral. These include lifetime income, death benefit options and the ability to transfer among investment options without sales or withdrawal charges.
Pacific Life Insurance Company is licensed to issue individual life insurance and annuity products in all states except New York. Product availability and features vary by state. Individual life insurance and annuity products are available in New York through Pacific Life & Annuity Company. Product and rider guarantees are backed by the financial strength and claims-paying ability of either Pacific Life or Pacific Life & Annuity. Each company is solely responsible for the financial obligations accruing under the policies it issues.
Variable products are issued by Pacific Life Insurance Company and Pacific Life & Annuity Company. Mutual funds are issued by Pacific Life Funds. These products are distributed by Pacific Select Distributors, Inc. (member FINRA & SIPC), a subsidiary of Pacific Life Insurance Company and an affiliate of Pacific Life & Annuity, and are available through licensed third party broker/dealers.
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