The group has entered the small business retirement market with the launch of its GE Retirement Solutions portfolio.
The portfolio comprises two 401(k) plans, which require no minimum number of employees nor minimum asset size, namely:
- GE RapidK, an e-401(k) plan, and
- GE Custom 401k, a more traditional 401(k) plan
GE joined forces with GoldK, an online retirement services company to offer GE RapidK, which allows small employers and their retirement plan advisors to quote, design, install, and manage their 401(k) accounts totally online.
On the other hand, in offering GE Custom 401k, a full-service alternative for small businesses, GE teamed up with Universal Pensions. The plan design offers quarterly statements, on-site enrollments and the ability to access account information online.
Plan sponsors and plan participants can access information on both 401(k) plan designs at www.gefinancialbenefits.com.