Texas Technology Company Selects Invest N Retire Platform
PORTLAND, OR, August 22, 2007 -- Invest n Retire, LLC (INR) adds the Mcube Investment Technologies LLC 401k plan as a client. Getting a jump on some of the new rules included in the Pension Protection Act of 2006 (PPA), the Mcube plan includes automatic enrollment under the "eligible automatic contribution arrangement" including a 90-day opt-out feature. The plan also includes a "Qualified Default Investment Alternative" (QDIA) which complies with the DOL's regulations for designing a default investment alternative under the rules of the PPA.
Since launching it recordkeeping system which incorporates the PPA rules, INR was able to offer Mcube the option of designing its plan around the PPA guidelines. Given that advantage, Mcube is the first company to offer its employees a plan designed around the PPA.
"We are proud to be the first recordkeeping company to offer full fee disclosure under the DOL's 408(b)(2) project and a 'qualified' default investment alternative, under the PPA rules and DOL guidelines, " stated Darwin Abrahamson, CEO and Founder of Invest n Retire, LLC.
"We're really looking forward to a productive partnership with Invest n Retire as we bring a world class 401k offering to our employees," says Sanjay Muralidhar, CEO and CFO, Mcube Investment Technologies, LLC. "Their platform allows us to offer our employees institutional quality asset allocation decision making, similar to what many of our large pension fund clients use to manage their funds. Moreover, this can be delivered to plan participants extremely cost-effectively.
The QDIA and all of the other pre-designed models offered to Mcube's employees were designed and are managed by AlphaEngine Global Investment Solutions LLC. The models use Smart Rebalancing.
Instead of offering Mcube's employees a typical rebalancing approach, Smart Rebalancing manages asset allocation based on market factors (therefore, Smart) as opposed to rebalancing portfolio assets due to a drift in the model allocation or some arbitrary time period. According to AlphaEngine, following a Smart Rebalancing approach can meaningfully improve the performance of the investment portfolio.
About Mcube Investment Technologies LLC
Mcube Investment Technologies, a global company headquartered in Plano, Texas, is a leading developer and provider of decision support products for institutional investment management. Building on management's hands-on experience as plan sponsors and researchers at premier asset management companies, the company is facilitating a movement to the new model of SMART Rebalancing (Systematic Management of Assets using a Rule-based Technique), which represents a superior approach to managing asset allocation decisions within multi-asset portfolios. The company also has offices in Princeton, New Jersey; Tokyo, Japan and Bangalore, India. For more information visit www.mcubeit.com.
About Invest n Retire, LLC
Invest n Retire‚ LLC (INR)‚ located in Portland Oregon‚ was founded in response to the overwhelming demand for leading edge technology that can deliver financial tools and services to 401k plans. INR's uniquely designed system for managing tax-deferred retirement plans (patent pending) addresses and solves two major problems: (i) the move from defined benefit‚ profit sharing‚ and money purchase plans to defined contribution plans which forces employees to become investment experts and (ii) the high costs associated with the traditional investment options offered to employees.
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