A news release from the Mobile, Alabama-based 401(k) provider Employee Fiduciary said companies and their advisers can select any index fund from any mutual fund family (meeting fund requirements). Participants pay no transaction fees and nothing but the expense ratios of the index funds, which the company said can be as low as 0.07% per year, and advisers can supplement the index lineup with other funds, if they wish.
According to the announcement, the employer is charged a static itemized fee for recordkeeping and administrative service.
Employee Fiduciary provides same-day contribution processing, trading, recordkeeping, a participant Web site, and all plan administration (plan documents, required testing, government filings, etc.), the company said.
For more information, call (877) 401-5100 or go to www.employeefiduciary.com.
« BofA Merrill Lynch Revamps Business Retirement Solutions Team