Eaton Vance Introduces Four New Small Biz Retirement Plans

Plan4Most is a 401(k) productdesignedspecifically for small-and mid-sized businesses ranging from thosethatare initiating new plans to companies with up to $10 million in planassets.  Additionally, Plan4Most offers flexibility to accommodate differentplanstructures, including the traditional 401(k) and a safe harbor 401(k), according to a news release.

The other three products are targeted for the smaller firm.   Plan4Ten is designed for firms with two to 10 employees andis priced to minimize the expense and complexity of sponsoring aretirement plan, while Plan4One is available to owner-only businesses.   Specifically, Eaton Vance says the Plan4One is targeted for professionals, such as realestate brokers, consultants, lawyers, accountants, landscapers, and a nybusiness that employs only the owner and his or her spouse.

For those individual that are either self-employed, or self employed as asecond occupation, there is also Plan4OnePlus, targeted for individuals who earn at least$75,000 per year.  Plan4OnePlus allows a business owner 45 years ofageor older to make up for missed retirement savings due to havinginvestedin his or her own business. 

Eaton Vance’s qualified plan products are powered by PlanAdministrators,Inc. (“PAi”). PAi provides full-service plan administration for smallbusiness retirement plans nationwide.  PAi currently services over4,500plans, with $2.5 billion in assets under administration and supportingover 430,000 participants. Eaton Vance Distributors is a wholly ownedsubsidiary of Eaton Vance Corp.