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Products September 24, 2008
New Fund is Designed for Cash Balance Plans
September 24, 2008 (PLANSPONSOR.com) - Kravitz,
provider of design and administration of cash balance pension
plans, along with Payden & Rygel, an independent
investment manager, announced the launch of a new fund
designed to offer cash balance plan sponsors and advisers
access to a strategic investment solution.
Reported by
Rebecca Moore
According to the announcement, the Payden/Kravitz Cash Balance Plan Fund minimizes administrative burdens and simplifies performance monitoring. The fund seeks to earn a net rate of return, after fees and expenses, equivalent to the yield on 30-year Treasury Securities Interest Rate, as defined annually by the Internal Revenue Service (IRS) – a rate used by many cash balance plans for crediting interest to participant accounts.
The fund will be distributed through intermediaries including 401(k) providers, financial advisers and TPAs, by Payden & Rygel Distributors.
For more information and to obtain a prospectus, call David Hilton at Payden & Rygel at 213-830-4278.