Products September 24, 2008
Kravitz Releases Fund for Cash Balance Plans
Kravitz, provider of design and administration of cash balance pension plans, along with Payden&Rygel, an independent investment manager, announced the launch of a fund for cash balance plans.
Reported by Rebecca Moore
The fund will be distributed through intermediaries including 401(k) providers, financial advisers, and TPAs, by Payden & Rygel Distributors.
According to the release, the Payden/Kravitz Cash Balance Plan Fund seeks to earn a net rate of return, after fees and expenses, equivalent to the yield on 30-year Treasury Securities Interest Rate, as defined annually by the Internal Revenue Service (IRS)—a rate used by many cash balance plans for crediting interest to participant accounts.
For more information, call David Hilton at Payden & Rygel at 213.830.4278.
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