Lord, Abbett Puts Out Small-Biz K Plan

October 7, 2003 (PLANSPONSOR.com) - Small firms now have a new 401(k) plan product to consider when revising their benefit offerings

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.