Products July 17, 2007

SurePayroll Unveils Online 401(k) Product

Payroll provider SurePayroll has come out with an online 401(k) program for small business employers.
Reported by

According to a press release from the company, Sure401k will be offered to small business owners for less than $85 a month, minus a one-time set-up fee, and will include features such as:

  • Access to more than 320 mutual funds in 15 asset categories from companies such as Fidelity, T. Rowe Price, and Vanguard along with low-fee index funds and lifestyle retirement funds
  • Flexible plan designs (Roth and Safe Harbor features available)
  • Full-service recordkeeping, administration and compliance testing
  • Free customer support
  • Online plan management for employers and employees
  • Integration with payroll

There are no minimum employee restrictions; businesses that are run exclusively by the owners, partners and spouses can implement an owner-only 401(k), or Solo(k) plan, for $12.50 a month. SurePayroll will also offer a $250 discount on set-up fees for regular 401(k)s, until October 1, 2007.

Want the latest retirement plan adviser news and insights? Sign up for PLANADVISER newsletters.

Small business owners that choose Sure401k are not required to be current SurePayroll customers.

For more information about the product visit

www.surepayroll.com/product/401k.

Products July 17, 2007

Money Manager Teams with Wilshire for Lifecycle Funds

Los Angeles-based money manager Payden&Rygel has launched a series of target maturity funds using the investment research of Wilshire Funds Management.
Reported by

A news release said the Payden/Wilshire Longevity Funds consist of four target maturity portfolios – 2010, 2020, 2030 and 2040 – that are designed to take investors through retirement.

“Up until now, most target maturity funds have been designed to manage retirement assets for individuals until they reach their retirement age, but not afterwards,” said Gregory P. Brown, principal at Payden & Rygel and the firm’s lead in launching the new fund family.

According to the news release, Wilshire’s research found that many glide paths turn conservative too quickly, while others take on unacceptable risk, disregarding the investor’s liabilities and funding status.

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

The blending of the traditional asset-only efficient frontier with the liability-aware surplus frontier is a proprietary technique developed by Wilshire. The surplus frontier is the curve that gives preference to asset classes that will maximize the likelihood of having a surplus starting at retirement.

The announcement said Payden will lead the distribution and servicing effort for the Longevity Funds, focusing on financial intermediaries and third party administrators in the defined contribution market. Wilshire will serve as sub-adviser, responsible for construction of the portfolios, including the asset allocation, the selection of the underlying investments, and the ongoing adjustments to the glide path.

More information can be found at http://www.payden.com.

«