JPMorgan Chase has created a simplified 401(k) plan designed for its small-business clients.
Called Everyday 401(k), the program will use SS&C Technologies as the underlying record keeper. Company fees can be as low as $75 per month plus $5 per participant per month, the bank said in a release.
The plan can be set up and employees enrolled online, the bank said.
All of the investments in the plans are J.P. Morgan products, including its target-date mutual fund series. Employees are expected to pay average net mutual fund investment management fees of 47 basis points.
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Pro-bitcoin professionals, however, say the cryptocurrency has ushered in change.
“LPL has evolved significantly over the last decade and still wants to scale up,” says one industry executive.
Survey findings from the Nationwide Retirement Institute offers pearls of planning wisdom from 60- to 65-year-olds, as well as insights into concerns.
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