Products August 6, 2008

ExpertPlan Provides Co-Fiduciary Service

ExpertPlan partnered with Morningstar Investment Services to launch ExpertNvest, an investment management program providing fiduciary relief for 401(k) sponsors.
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With ExpertNvest, Morningstar Investment Services assumes co-fiduciary status for both the investment funds selected and maintained in the plan and the investment management of participant accounts, according to a press release. Morningstar Investment Services will also select carefully screened, low-cost mutual funds and providing ongoing monitoring and fund replacement to provide participants with portfolios tailored to their personal investment horizon and risk tolerance.

Any revenue sharing provided by the fund is disclosed, ExpertPlan said.

“ExpertNvest is the answer particularly for those employers who have been reluctant to offer a retirement plan due to liability concerns and the challenge of understanding the costs associated with offering a plan,” said Julian Onorato, CEO of ExpertPlan, in the release. “ExpertNvest is also ideal for advisers who are unable to act as an investment fiduciary for retirement plans.”

More information is available at www.ExpertNvest.com.

Products August 6, 2008

MassMutual Provides Customizable Asset Allocation Funds

MassMutual’s Retirement Services Division introduced a tool allowing employers and advisers to make plan-specific investment options available to participants based on a target retirement date and/or investment objective.
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With CustomChoice Strategies plans can offer customized investments using asset allocation models developed by Morningstar Associates, LLC, and delivered through a Web-based interface. Sponsors can select funds from the plan’s existing investment lineup to meet Morningstar Associates’ target asset allocations, or they can adjust those asset allocation targets within preset ranges to further align them with the demographics of the plan’s participant base, according to a release.

MassMutual said the strategies can be based on target retirement dates in five- or 10-year increments; or three, four, or five lifestyle categories; or a blend of target retirement dates in 10-year increments, each with three lifestyle categories. Customized model strategies are listed among the investment options available to participants in enrollment materials and on the Web site.

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Morningstar will then review the asset allocation targets annually, and the sponsor or adviser will be advised to review and re-authorize the custom strategies.

“MassMutual’s CustomChoice Strategies also creates an opportunity for retirement plan advisers to provide additional value to plan sponsors and participants,’ said Paul Steven Henry, vice president of product development for MassMutual’s Retirement Services Division, in the release. “If an adviser is assuming an investment fiduciary role, CustomChoice Strategies offers an easy-to-use solution that makes it easy to develop and implement unique investment strategies.’

More information is available at 1-888-626-4911 or www.massmutual.com/retire.

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