In an AIG SunAmerica news release, the company said PAi’s involvement should help advisers provide better customer service by not having to spend as much time on administrative tasks.
The news release said the enhanced Polaris401(k) features traditional and customized plan designs, including Roth 401(k), Safe Harbor, Age-Weighted, New Comparability, and a Super New Comparability customer service model. The program will have Web sites for the plan sponsor, participant and financial adviser with a voice response system.
According to AIG SunAmerica, the plan offers:
- investment options from 14 money managers including Capital Research and Management Company (American Funds), Massachusetts Financial Services Company, Van Kampen Asset Management, Lord Abbett and Co, LLC, and Davis Selected Advisors, L.P.,
- a one-year fixed account investment option with no market value adjustment,
- automatic account rebalancing,
- a fully bundled version or a flexible Third Party Administrator version,
- asset allocation models to simplify diverse investment selection,
- death benefit and flexible retirement distribution options including an option for lifetime income; and
- investment policy statement support.
More information about the 401(k) plan is available by calling the Polaris401(k) Help Desk at 877-814-401(k) or e-mailing firstname.lastname@example.org.
More information about PAi is at http://www.pai.com/.