The Markets January 13, 2010

Iowa School District Succumbs to Staff Pressure to Keep 403(b)

WACO Community Schools of Wayland, Iowa, will continue offering the state’s 403(b) retirement plan to employees, after staff spoke out against its elimination.
Reported by

The Mt. Pleasant News reported that the plan was set to end at the end of this school year. Board member Todd Meyer told the newspaper that a group of school staff appeared before the board in a special meeting last week to argue their case for leaving the retirement plan in place.

As a concession, those enrolled in the program agreed to pay the administrative costs for it, which Meyer said was the point that made him vote to keep the plan, according to the news report.

Products January 13, 2010

Freedom One Adds vWise SmartPlan to Platform

Freedom One Financial Group has added vWise SmartPlan Enterprise to its education and communication service offering to plan participants.
Reported by

A vWise press release said SmartPlan Enterprise provides the benefits of a personal financial professional in a Web site. The solution combines a video-based presentation of detailed financial information with an interactive application that prompts users to make informed investment decisions.

vWise video hosts offer a brief video overview of 401(k) basics, followed by a discussion of selected plan features—such as automatic enrollment, matching contributions, and loans—that plan sponsors can customize. Using interactive forms, the video hosts then guide participants through a short process, including individual retirement needs and risk profile surveys and selection of investment types and contribution amounts, and generates a personalized investor profile.

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