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Products February 11, 2009
New 401(k) Plan Emphasizes High-Touch Service
Reliance Trust Company, a division of Reliance Financial Corporation, has introduced a new 401(k) plan aimed at plan sponsors with a minimum of $25 million in plan assets.
Reported by Rebecca Moore
According to a press release, Today’s (k) focuses on one-on-one relationships between Reliance and plan sponsors. Reliance said it will only offer the solution to a limited number of clients.
In addition, Reliance can assume discretionary trustee responsibilities potentially reducing the liability on plan sponsors, the announcement said.
Reliance has chosen The Newport Group, a retirement services and recordkeeping firm, to service plan participants. Series 6 licensed professionals at The Newport Group will give employees timely communication and ongoing education about the Today’s (k) plan and how to invest for their retirement.
Today’s (k) features a varied investment lineup including top performing pre-screened mutual funds, low cost target-date exchange-traded funds (ETFs), and its risk-based LifeStyles asset allocation strategies. Reliance said it is also able to customize Today’s (k) with unique investment alternatives, depending on each company’s needs.