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.

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 .