Lord, Abbett & Co., a Jersey City, New Jersey-based investment manager, has unveiled its $500 Lord Abbett Turnkey 401(k) Plan to be sold through the financial advisor channel. According to a news release, the offering is aimed at companies with between 10 and 50 employees with the $500 annual charge covering:
- all administrative preparation including Form 5500 completion
- ADP discrimination testing
- top-heavy testing
- participant Internet access
- daily valuation.
Plan participants have access to more than 20 equity and fixed income funds.