Products September 3, 2003

PayMaxx Adds E401(k) to Lineup

March 21, 2002 (PLANSPONSOR.com) - PayMaxx, Inc., a payroll processing company, has partnered with Fast401k, to offer PayMaxx clients an online 401(k) product.

Reported by

Fred Schneyer

According to a PayMaxx press release, Fast401(k) is primarily aimed at small companies – those with 100 or fewer employees. Although primarily an online plan, participants can also access it through a voice response unit or by calling a customer service representative.

Plan sponsors could either administer the 401(k) through their PayMaxx representative or use the Power401K Web site.

Plan sponsors can choose to offer any of 100 no-load and load-waived mutual funds in 15 asset classes from money managers such as Vanguard, Fidelity, Oppenheimer and American Funds.

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