According to a news release, DST Retirement Solutions developed an automated online plan setup tool for AARP Financial Inc. that enables employers to receive quotes for new plan services, as well as design and purchase plans.
The AARP Financial 401(k) offerings include a traditional 401(k) program, an automatic 401(k) program that offers auto enrollment and auto increase, and a solo(k) for self-employed professionals.
DST Retirement Solutions will provide recordkeeping and participant servicing for the plans.
“One of the most important benefits a company can offer its employees is a comprehensive retirement plan,” said Richard “Mac” Hisey, president of AARP Financial Inc., in the announcement. “These plans give small business owners access to similar plans traditionally available only to larger firms.”