According to a news release, The Franklin Templeton Retirement Program is aimed at companies with more than $20 million in retirement plan assets. The announcement said the new program offers employers access to a wide range of programs designed to address the diverse retirement and savings needs specific to large corporations and their employees.
Franklin Templeton said the new offering includes:
- a qualified bundled program that integrates plan administration, recordkeeping, communication and employee education services
- a systematic savings program that allows domestic companies employing non-US or non-Canadian citizens in offshore entities to offer them a savings program
- a nonqualified 401(k) look-alike vehicle through which highly compensated employees can invest additional tax-deferred income for retirement
- a 529 College Savings Plan.
Investment options include Franklin Templeton funds as well as outside funds and a self-directed brokerage option.