Products October 14, 2010

Ala. Firm Releases Index Fund 401(k)

A 401(k) provider has unveiled a bundled 100% index fund 401(k) program where employees pay only the expense ratios of the index funds.
Reported by

A news release from the Mobile, Alabama-based Employee Fiduciary said companies and their advisers can select any index fund from any mutual fund family (meeting fund requirements). Participants pay no transaction fees and nothing but the expense ratios of the index funds, which the company said can be as low as 0.07% per year, and advisers can supplement the index lineup with other funds, if they wish.

According to the announcement, the employer is charged a static itemized fee for recordkeeping and administrative service.

Never miss a story — sign up for PLANADVISER newsletters to keep up on the latest retirement plan adviser news.

Employee Fiduciary provides same-day contribution processing, trading, recordkeeping, a participant Web site, and all plan administration (plan documents, required testing, government filings, etc.), the company said.

Deals & People October 14, 2010

Plan Sponsor Advisors, LLC Announces New National Practice Leader

Plan Sponsor Advisors, LLC (PSA) has hired Theresa “Tess” Malone as its new National Practice Leader.
Reported by

Malone joins the Chicago-based investment and retirement plan consulting firm from Blue Prairie Group, a Chicago-based consulting firm. At Blue Prairie Group, Malone was the Institutional Retirement & Investment Practice Leader. Malone also worked at The Principal Financial Group where she led their in-house ERISA Consulting practice, which supported the consulting needs of Principal’s 20,000+ retirement plan sponsors. 

Malone has earned the Accredited Investment Fiduciary (AIF) designation from the Center of Fiduciary Studies, Wharton School of Business and the PLANSPONSOR Retirement Plan Professional (PRP) designation.   

For more stories like this, sign up for the PLANADVISERdash daily newsletter.

“As National Practice Leader, Tess will be responsible for bringing market leading solutions to our clients that help them mitigate risk and improve the effectiveness of their retirement plans,” said Donald Stone, president of Plan Sponsor Advisors.   

With offices in Boston, Chicago, Des Moines, and Charlotte, Plan Sponsor Advisors has advised plans with over $55 billion of retirement assets since 2002. Founded by Jennifer Flodin and Stone, its clients include public and privately held companies of all sizes ranging from family held companies to global corporations, major universities, healthcare systems and hospitals.
 

«