Products September 5, 2008

New 403(b) Plan Solution Available for Small Plans

Millikin Mandt Associates, Inc. is offering what it calls “a very competitive” 403(b) plan solution focusing on the small plan (fewer than 200 employee) marketplace.
Reported by

Features of the offering include:

  • Open architecture (most mutual funds are available),
  • A shares at NAV or the low cost R share,
  • Employee education meetings and investment information,
  • Online access,
  • $3,500 flat fee for recordkeeping and administration,
  • Plan document fee of $850, and
  • No set-up fee.

The firm offers its open architecture platform through Sungard Transaction Network and Mid Atlantic Trust Company. It uses its own proprietary recordkeeping software, clears trades through KMS Financial Services, and uses Lakeside Advisors for registered investment adviser services.

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“We are mindful of fees and have provided complete transparency in what is charged to plan participants and the plan sponsor,” said CEO Kurt A. Millikin and President Kristi A. Mandt, in a letter to PLANADVISER.

More information is at www.mma401k.com.

Products September 4, 2008

S&P Announces Housing ETFs

Standard&Poor's has licensed MacroMarkets LLC to launch exchange-listed products based on the S&P /Case-Shiller Home Price Indices.
Reported by

A news release said the first of several exchange-listed products linked to U.S. housing is anticipated to begin trading on the NYSE/Arca later in 2008 and will reference the S&P/Case-Shiller Composite-10 Home Price Index.

The S&P/Case-Shiller Composite 10 Home Price Index is a weighted composite index of home prices in 10 major metropolitan areas (Metropolitan Statistical Areas, or MSAs). The 10 MSAs include Boston, Chicago, Denver, Las Vegas, Los Angeles, Miami, New York Commuter Index, San Diego, San Francisco, and Washington, D.C.

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The S&P/Case-Shiller Home Price Indices, launched in 2006, track the price path of typical single-family homes using the repeat sales technique developed by Karl Case and Robert Shiller. Additionally, the S&P/Case-Shiller U.S. National Home Price Index represents home prices from all nine U.S. Census Divisions, drawing from more than 100 of the largest metropolitan areas and nearly 500 counties.

More information is available at www.homeprice.standardandpoors.com.

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