Union Bank of California (UBOC) and 401(k) Pro say they expect to start offering that capability sometime next year through their UBOC EZ 401(k) service.
The online product will debut as a UBOC offering, but versions will also be offered to other financial institutions and retirement services companies. The product will be aimed at the small-plan market with one to 100 employees.
UBOC and 401(k) Pro say the online service will include:
- electronic compliance testing
- participant account access
- participant loans
- investment education materials
- enrollment seminars via webcasting.