ShareBuilder Revamps 401k Retirement Plan Product
SEATTLE, WA, November 16, 2010 -- ING DIRECT's ShareBuilder 401k, a leading provider of retirement plans for small businesses, has revamped its product names and services to make it even easier for business owners to compare different 401k plan types and select the right plan design for their specific needs.
"Our goal is to help any small business save by simplifying 401k plans," said ShareBuilder 401k general manager Stuart Robertson. "The new product names, descriptions and visual presentations ensure that anyone can quickly understand essential differences and make a smart selection."
ShareBuilder 401k's new product names include Individual 401k for owner-only companies, Simplified 401k designed to help employee-based businesses easily maximize contributions and automatically satisfy government tests, Customized 401k that allows for flexible matching and vesting options, and Tiered Profit Sharing 401k that enables businesses to reward employees by group, tenure or age.
"In talking to prospects and customers, we found there was a big opportunity to make the decision-making process even easier," said James Moran, product management lead for ShareBuilder 401k. "While our previous naming convention avoided leading with confusing industry jargon like Safe Harbor and New Comparability Profit Sharing, our new 401k product names help highlight essential 401k plan differences and benefits so any business can quickly identify the right 401k plan type for their business."
Unlike traditional 401k plans that rely primarily on mutual fund offerings, ShareBuilder 401k plans are comprised of exchange-traded funds (ETFs). ShareBuilder 401k, also known as ShareBuilder Advisors, LLC, is a Registered Investment Advisor (RIA). As part of its role as an advisor, ShareBuilder shares in the investment fiduciary role with its clients which is uncommon in the industry. This includes the ShareBuilder Investment Committee that manages the evaluation and selection of the fund line-up and model portfolios automatically for employers and their participants with a focus on low-expense investments from the leading ETF providers such as iShares, SPDR and PowerShares.
All ShareBuilder 401k products offer the latest features including auto-enrollment, auto-re-balancing, Roth, signature-ready 5500s and much more. The plans are typically priced significantly less to start up and administer than traditional providers. Additionally, each plan is fully-supported with access to 401k consultants, customer success managers, implementation specialists and customer care for each participant.
About ShareBuilder 401k
ShareBuilder 401k provides easy and affordable 401k plans for small businesses, ranging from the self-employed to those with 500 or more employees. ShareBuilder 401k is a leader in providing 100 percent index-based ETF investments (plus a money market) in retirement plans. ShareBuilder 401k offers a suite of on-demand services that make it simple for employers and employees to open and manage their retirement plans online at www.sharebuilder401k.com. ShareBuilder 401k plans provide market-efficient investments and model portfolios that make it easy for employees to select the smart investments to help them get on track to meet their retirement goals. Customers can also take advantage of ShareBuilder 401k consultants, customer success managers, and customer care agents to receive assistance in choosing and managing their retirement benefits. ShareBuilder Advisors, LLC, is a registered investment advisor and a subsidiary of ING DIRECT.
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