The company also announced it has added 23 new investment options for clients enrolled in The Guardian Advantage group variable annuity. The Guardian Advantage is an unregistered, group variable annuity used as a funding vehicle for 401(k) plans.
In addition to the eleven options automatically selected from the Park Avenue Portfolio family of funds, plan sponsors using the 401(k) PLUS with The Park Avenue Portfolio product can now choose up to six additional funds. The additional options come from a list of 30 funds managed by AIM, Alliance, American Funds, Putnam and Franklin Templeton.
Also, through a partnership with ExpertPlan to provide Internet access to retirement planning programs and services, plan sponsors can perform a wide variety of recordkeeping and administrative tasks online. Plan participants will also have easier access to their accounts, with daily valuation of assets, via a password protected Web site.
Clients using the Guardian Advantage also now have access to a wider range of investment options. The added choices are from three mutual fund families – Alliance Capital, Franklin Templeton and PBHG – as well as from Dreyfus, MFS, Fidelity Investments, American Century, AIM and Janus. Clients may add as many of the new investment selections as their plan permits, subject to a maximum limit of 45 funds per plan, according to the company.