Products November 1, 2011

Platinum 401k Adds Hartford Lifetime Income Option to MEP

The Platinum 401k multiple employer plan program will now include a retirement income option from The Hartford.
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The Platinum 401k multiple employer plan (MEP) allows plan sponsors to eliminate their annual plan audit, Form 5500 filings, trustee-level liability, and investment fund selection responsibility. It features investment products from Great-West Retirement Services, John Hancock, and The Hartford.

“We’ve seen a growing interest from employers who are seeking income protection for their employees in retirement”, said Terrance Power, President of American Pension Services. “The Hartford’s new Lifetime Income program addresses that demand in the marketplace.”

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For details on the program, visit www.ThePlatinum401k.com.

Products November 1, 2011

Principal Offers Tips on Small-Market Selling

The Principal has produced a small-plan market tool kit that offers resources to help financial professionals tap into a growing market segment and build their practices with diversified revenue streams.  
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The Principal says that about three quarters of small businesses do not sponsor a retirement plan.  However, of the quarter that does sponsor a plan, most (about 90%) employ a financial professional.    

The toolkit includes a white paper, “Boosting Profitability in the Small Retirement Plan Market,” which offers best practices and tips from financial professionals who are successful in this space and shows how others can take advantage of the opportunity.

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Also included is a small-plan prospecting checklist, information about the value of working with a third party administrator (TPA), and a non-branded flier on the benefits of starting up a retirement plan that financial professionals can use with small-business owners.

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