In its announcement, Actium said the management service provides the following for 401(k) plan participants for a low annual capped fee:
- Professional management of their 401(k) accounts,
- One-on-one meetings,
- Personalized emails and phone calls,
- Access to qualified investment professionals, and
- Personal annual reviews.
The service also includes a corporate review for plan sponsors to aid them in reducing fiduciary liability. It can also be used with 403(b) plans.
According to the company’s Web site, BeManaged is referred to as a “plug in” solution because the service can be used in conjunction with plan providers, plan sponsors, or third party administrators (TPA). Plan providers and TPAs can offer the service to their clients at no added cost, the site says.
More information can be found at www.myActium.com .