The expansion will bring the 401(k) provider’s services to employees of tax-exempt organizations, including educational, religious, health-care and charitable institutions.
There are more than 6 million workers with some $520 billion in assets in 403(b) programs, according to Spectrem Group research cited in the press release. That same study finds that more than 50% of 403(b) assets are currently invested in annuities, compared with just 15% in mutual funds.
GoldK was founded in 1999 and is based in Waltham, Massachusetts.
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