Products September 23, 2008
OppenheimerFunds Drops Fees for Retirement Services Platforms
September 23, 2008 (PLANSPONSOR.com) -
OppenheimerFunds, Inc.'s Retirement Services has
announced enhancements to its Pinnacle and Record(k)eeper Pro
retirement programs.
Reported by Rebecca Moore
According to the announcement, based on competitive and industry analysis, the enhancements eliminate installation fees and reduce proprietary fund requirements for certain plans. Pinnacle and Record(k)eeper Pro installation fees have been eliminated for all plans with at least $3 million in total assets.
For Pinnacle plans, the reduced proprietary fund requirements allow more flexible fund selection and greater diversification among fund managers. The Pinnacle updates include:
- Plans with $500,000 or less in total assets: 10 of 20 funds may be from outside managers.
- Plans with $500,000 to $3 million in total assets: 14 of 20 funds may be from outside managers.
- Plans over $3 million in total assets: no requirements.
More information is at www.oppenheimerfunds.com .
You Might Also Like:
Ascensus Adding $3.9B to Recordkeeping Assets with Acquisition
Purchase will bring in-house Mutual of Omaha's 401(k) business, to which it had provided outsourced services for years.
Retirement Industry People Moves
Principal promotes Branham to national retirement investment director; Spouting Rock hires chief client officer; Natixis bolsters retirement product sales; and...
Youngest Workers Feel They Face Most Retirement Obstacles
Workers from Generation Z say the cohort experiences higher financial stress than other generations, affecting their job performance, according to...