A Hartford news release said its Aviator 401(k) program combines two existing products. The company said the new offering includes:
- streamlined pricing with automatic fee reductions, which are sensitive to the growth of assets within a 401(k) plan.
- free independent investment co-fiduciary service. Fiduciary Assure features a contractual investment selection and monitoring service from an independent third party, the announcement said.
- expanded investment lineup with seven new fund families and no proprietary fund requirements.
- six new target date funds from The Hartford Mutual Fund Family available in five-year increments for a total of nine (see The Hartford Adds Funds to Target-date Series ).
- an asset allocation program.
- Morningstar’s Retirement Manager that offers an advice and guidance module.
- a Self-directed brokerage account option.
- automatic enrollment with multiple Qualified Default Investment Alternative options and an automatic deferral increase feature.