Security Benefit, a Guggenheim Partners Company, has launched EliteDesigns as the inaugural product for its new Personal Retirement Savings (PRS) initiative.

Security Benefit said that EliteDesigns will combine a tax-deferred variable annuity with 200 well-recognized investment options for Registered Investment Advisors (RIAs) and other fee-based advisors and their clients.

Security Benefit claims that from a relatively passive but well-diversified buy-and-hold investment program, to a progressive core and satellite model, to a highly sophisticated tactical strategy, EliteDesigns offers a range of asset classes and a portfolio of well-known asset managers.

Guggenheim Partners senior managing director Michael Kiley said that this launch marks the first of many outstanding additions to the Security Benefit portfolio of retirement products.

"By leveraging the powerful combination of Guggenheim Partners’ global financial services footprint with Security Benefit’s innovative product design targeting the retirement savings market, we expect a strong appetite for these unique investment vehicles," Kiley said.