According to media release from the company, ESG offers two new 401(k) plan designs:
- GE RapidK, an e-401(k) plan, which allows small employers and their retirement plan advisors to quote, design, install, and manage their 401(k) accounts online
- GE Custom 401(k), a more traditional 401(k) plan, which offers quarterly statements, on-site enrollments and the ability to access account information online.
GE RapidK plan is offered in partnership with GoldK, an online retirement services company, while GE Custom 401(k) is offered through an alliance with BISYS Retirement Services.
The two plan designs allow plan sponsors a choice of mutual funds from numerous providers including the GE Funds.
Plan sponsors and participants can access information on both the 401(k) plan designs and can also log into their respective accounts. Once there, they will find free links to retirement education and planning tools on the GE Center for Financial Learning Web site. Employer Services Group (ESG) is one of 10 insurance and investment companies that comprise GE Financial. ESG provides benefit services to employers with two to 500 employees.