Security Mutual Life of New York has released a new retirement plan guide geared toward fully insured plans and cash balance plans.

Fully insured plans or cash balance plans, when used with 401(k) plans, can provide business owners and self-employed professionals with greater retirement accumulations than stand-alone 401(k) plans, the company said.

A properly designed, fully insured or cash balance plan may also permit the advantage of tax-free survivor benefits to the participant’s surviving spouse or other heirs, company officials said.

Binghamton, N.Y.-based Security Mutual added that federal law and regulations for fully insured plans and cash balance plans are more involved than those for 401(k) plans, so its new retirement plan guide, offered through subsidiary Security Administrators, can help financial advisors better understand these complexities.

The guide is available for download on the insurer’s website, providing a guide for insurance advisors interested in presenting combination designs to their business owner clients. The insurer and its subsidiary also offer plan design services for life insurance advisors and other qualified plan advisors.

George Kozol, Security Mutual’s chief marketing officer, said “at a time when the federal government is providing stimulus relief packages to large publicly-held companies, small business owners and professionals have to fend for themselves.”

“Fully insured and cash balance plans might be viewed as self-help stimulus plans for small business owners and independent professionals,” he said in a statement.