Products September 5, 2008

New 403(b) Plan Solution Available for Small Plans

Millikin Mandt Associates, Inc. is offering what it calls “a very competitive” 403(b) plan solution focusing on the small plan (fewer than 200 employee) marketplace.
Reported by

Features of the offering include:

  • Open architecture (most mutual funds are available),
  • A shares at NAV or the low cost R share,
  • Employee education meetings and investment information,
  • Online access,
  • $3,500 flat fee for recordkeeping and administration,
  • Plan document fee of $850, and
  • No set-up fee.

The firm offers its open architecture platform through Sungard Transaction Network and Mid Atlantic Trust Company. It uses its own proprietary recordkeeping software, clears trades through KMS Financial Services, and uses Lakeside Advisors for registered investment adviser services.

“We are mindful of fees and have provided complete transparency in what is charged to plan participants and the plan sponsor,” said CEO Kurt A. Millikin and President Kristi A. Mandt, in a letter to PLANADVISER.

More information is at www.mma401k.com.

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