Securian Financial Group is combining its individual annuity and retirement plan businesses.[@@]

The combined unit, the new Security Retirement Savings unit, will include Securian departments that write and market 401(k) plans and other retirement plans to small employers and the individual annuity marketing arm, according to Securian, St. Paul, Minn.

The unit also will include product line management, actuarial services and customer service operations for the individual annuity products, Securian says.

Bruce Shay, the senior vice president who oversaw the retirement plan operation, will run the new unit.

Securian is a unit of Minnesota Mutual Companies Inc., St. Paul.