The new offering addresses the educational component of employers’ and plan sponsors’ fiduciary responsibilities and provides an investment option for plans that implement automatic enrollment, according to the announcement. Further, as a professionally managed account, the Navigator 401(k) can be adopted as a qualified default investment alternative (QDIA) under guidelines provided by the Department of Labor, according to the company.
Clark said it has six professionally managed, diversified accounts on the Navigator platform, which allow participants to identify a portfolio appropriate to their risk level and investment goals.
From lowest risk to highest, the portfolios include:
- Navigator U.S. Fixed Income,
- Navigator Global Growth & Income,
- Navigator Global Growth,
- Navigator U.S. Growth,
- Navigator Global Maximum Growth, and
- Navigator Global ETF.
“The Pension Protection Act underscores the fact that retirement plan participants need more support in building and preserving their retirement savings,” said Harry Clark, president and CEO of Clark Capital Management Group, in the release.
More information is at http://www.ccmg.com/default.aspx.