“The retirement plan market has long been dominated by mutual funds, but the transparency of fees and low cost of ETFs makes them an extremely efficient and attractive investment for both plan sponsors and participants,” said NPC President Shawn Dreffein, in a press release.
Plan participants will get one-on-one advice from investment advisers, constant online access to their account, and will be able to select from five fully-diversified portfolios, which are managed by Avatar Associates.
For plan sponsors, the program offers online access to participant account and investment information, as well as updates in employee benefit laws and other fiduciary considerations. Each employer will also get a plan book that includes:
- Educational material for plan participants,
- Risk assessment questionnaires,
- Portfolio descriptions,
- Enrollment forms, and
- Glossary of terms.