Products January 26, 2009

SunTrust to Work with ePlan Services on Online 401(k)

The Denver-based ePlan Services announced it has been selected by SunTrust Banks to help develop an online 401(k) for the small end of the retirement plan market.
Reported by

An ePlan news release said the company, which services the retirement plans of more than 3,500 small U.S. businesses, offers a product that uses the Internet to conduct all required set-up, administration, calculation, reporting, and recordkeeping services and to make certain that a plan is in full compliance with all applicable laws, rules, and regulations.

ePlan said sponsors and participants can choose to access their account information online or may opt to speak with retirement plan specialists via a voice-response system.

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“Partnering with ePlan Services has enabled us to develop an affordable retirement plan for this segment that couples the ease and flexibility of the Internet with institutional quality features and the support of experienced retirement professionals.” said Amy Luek, SunTrust First Vice President, Sales and Product Manager for the Online 401k product, in the news release.

More information is available by calling 303.567.8910

More information is available by calling 303.567.8910

 

Deals & People January 26, 2009

John Hancock, Ameriprise Financial Reach Distribution Agreement

Ameriprise Financial advisers can now use John Hancock Retirement Plan Services’ product services with 401(k) plans.
Reported by

Through the distribution agreement, John Hancock makes available its product services to 401(k) plans including John Hancock’s JH Signature line, defined contribution plans, and the Guaranteed Income for Life feature to the approximately 12,000 advisers of Ameriprise Financial, according to a press release.

“These challenging times point out the need for careful retirement planning,’ said Art Creel, executive vice president of Sales & Marketing at John Hancock RPS, in the release. “We believe the combination of our experience in the 401(k) market with the personalized approach of Ameriprise Financial advisers will go a long way to help small businesses and their employees prepare.’

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