According to the announcement, the ShareBuilder 401(k) is completely made up of Exchange Traded Funds (ETFs). The program allows plan participants to pay $15 per month, no annual employer administrative fee and a 0.65% annual asset fee.
Scott Waite, president and CEO of the San Francisco-based Patelco, said in the announcement that many of Patelco’s members work at small companies.
Patelco also sends participants performance reports and statements via e-mail and offers tax reporting and Form 5500 preparation.
For more information, go to www.sharebuilder.com/patelco401k .