Products August 1, 2013

American Century Adds R6 Share Class to Funds

American Century Investments has added a new retirement plan share class to many of its most popular mutual funds, as well as 10 new target-date funds.
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A total of 41 fund strategies now have the R6 share class, the lowest total expense ratio of any share class offered by the firm.

“We want to offer our clients multiple pricing options as they determine the best way to pay for investment management and recordkeeping services associated with employer-sponsored retirement plans,” said Peter Cieszko, chief client officer, Americas. “It’s part of our overall goal to provide advisers and plan sponsors with more flexibility and tools to facilitate better plan design and execution.”

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The R6 class shares are generally available only through employer-sponsored retirement plans where a financial intermediary provides retirement recordkeeping services to plan participants. The new R6 shares have been added to many American Century funds, as well as the new target-date funds.

More information is at http://www.americancentury.com.

Products August 1, 2013

DATAIR Offers Cash Balance/401(k) Combo Plans

The Illinois-based DATAIR Employee Benefit Systems, Inc., has released a new suite of software, training and support services for consultants and administrators of 401(k) plans.
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These services will enable such consultants and administrators to offer cash balance/401(k) combo plans, according to the firm. Such plans may give employers, who want to maximize their own tax-deferred contributions, the means to increase the benefits they might get from a cross-tested new comparability plan. Cash balance plans offer defined contribution plan account balances and employee communications coupled with the higher deductibility limits available to defined benefit plans.

DATAIR’s “Cash Balance/401(k) Suite” offers features such as:

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  • Cost/benefit illustrations and plan design comparisons;
  • Special default plans pre-designed to pass all tests;
  • Combined 401(k) and cash balance participant statements;
  • Sample and defaults plans for paired defined contribution/cash balance documents and summary plan documents;
  • Training tailored to 401(k) plan consultants; and
  • Expert actuarial support, plus review and Schedule SB certification.

DATAIR is a provider of software and support services for benefits and pension professionals. Additional information concerning Plan Document System and other DATAIR software is available at www.datair.com.

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