DaimlerChrysler Taps Merrill for Dealer K Plans

January 31, 2003 (PLANSPONSOR.com) - DaimlerChrysler Corporation's 4,400 US Chrysler Group dealers can now arrange their 401(k) plan through Merrill Lynch.

The DaimlerChrysler dealer 401(k) is being offered in conjunction with Delaware Investments as part of the Merrill Lynch Retirement Group’s MLConnect program, according to a news media announcement.

MLConnect combines investment offerings from Merrill Lynch Investment Managers (MLIM) and outside fund companies with recordkeeping and plan administration services from partners like Delaware Investments. Additionally, Merrill Lynch has a team of local financial advisors for Chrysler Group dealers. The advisors will help in investment selection and review, and participant education and enrollment meetings.

According to the announcement, other features of the plan include:

  • no cost to the dealer
  • an available¬†service team
  • participant education programs
  • flexible plan design
  • annual compliance testing.