Small Employers Now Have New 401k Option
PORTLAND, OR, November 29, 2004 -- Mt. Hood Pension Service, LLC has just launched a new daily valuation service for small to mid-sized 401k Plans. This new service specifically meets the huge demand of small employers for access to institutional level investments, full featured daily valuation access for both the employer and employee, and hands on servicing from both a local TPA and the 401k plan's investment advisor -- all within a low cost structure that rivals pricing in the large plan market.
"In creating this new service, the challenge was to provide the 'best of the best' while keeping a close eye on the total cost that would be charged to the plan and participants," said Doug Monahan, President of Mt. Hood Pension. "If I hadn't been able to combine these top level products and services at a price point below the competition, I would not have proceeded with the project."
Mt. Hood Daily is designed to provide complete investment flexibility, a full featured "daily" platform for both employer and employee, and high quality local administration and consulting.
The Mt. Hood Daily platform is completely independent from the 401k plan's investment menu. This independence allows employers to work with the advisor or broker of their choice on investment selection, investment monitoring and employee education -- all in an environment of 100% fee disclosure.
"It is good to see such a quality organization as Mt. Hood Pension Service enter the small company market," said Rick Meigs, President, 401khelpcenter.com, LLC, a Portland, OR, based expert on 401k plans. "Small employers need quality services delivered at a reasonable cost that is fully disclosed. It looks like they will get just that with this new service."
Under the Mt. Hood Daily platform, investment professionals can create asset allocation portfolios as well as offer institutional level mutual funds without regard to minimum asset size. These portfolios, in addition to participant investment elections, can be set up to be automatically rebalanced, thereby reducing the amount of account monitoring required.
"Mount Hood Pension is solid, reliable organization. Plan sponsors will find just what they are looking for value...affordable expertise," according to Matthew D. Hutcheson, M.S., CPC, AIFA®, CRC, an Independent ERISA Fiduciary and President of Matthew D. Hutcheson, LLC.
About Mt. Hood Pension Service, LLC
Mt. Hood Pension Service is a third party administrator specializing in consulting and administrative services for employer sponsored retirement plans, including: 401k, profit sharing, age based, and cross tested plans. Doug Monahan, President of Mt. Hood Pension Service, can be contacted at 503.597.7334 or doug@mthoodpension.com .
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