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Mydiscountbroker.com Introduces MDB401k for Small and Midsized Businesses Contact: FOR IMMEDIATE RELEASE LOS ANGELES more |
Fidelity Investments... last year began offering Web-based 401k administration for small companies. What's in it for Fidelity? While the program was expensive to set-up, it isn't profitable.
Hancock Leaves a Business to Take Charge Life Insurer John Hancock Financial Services (JHN.N) is a recent example of a large financial institution that targeted the small plan 401k market by setting-up an in-house, 220 employee 401k record-keeping division, only to close it down a few years later, taking a significant loss in the process.
The New York Tiimes, February 2001
The Wall Street Journal, December 1999 Web Helps Small Firms Start 401ks Inexpensive and efficient technologies, such as software-based in-house run-it-yourself 401k Easy plans (Advisors 401k's sister system), are changing the notions that 401k plans need be complex, expensive, or in any way out of reach of small businesses.
Worth, December/January 1999 Squeezed Out Big 401k shops are firing small clients, which now must choose between a more costly plan and none at all.
Retirement Talk in 401k Industry A lull prompts some retreats.
The Wall Street Journal, October 1998
Associated Press via Excite News, April 11, 2001 Florida Investment Broker Sentenced An investment broker has been sentenced to 6 1/2 years in federal prison for defrauding a police pension fund.
DOL Obtains Consent Order That Requires Profit-Sharing Plan Fiduciaries To Pay $101,618. The Department of Labor has obtained a consent order that requires the fiduciaries of Distribution Specialists, Inc., to pay $101,618 in restitution and civil penalties to plan participants.
U.S. DOL, April 2001
Colorado Plan Trustees Ordered to Repay Participants and Disband 401(k) Plan. Two Colorado officials agreed to restore $17,125 to the 401(k) pension plan of the now defunct JRMK Companies, Inc. of Denver.
U.S. DOL, March 2001
Business and Company Placed on Probation, Fined for Embezzling 401(k) Funds. Funds which were to be rolled over from the predecessor's plan to a new plan were instead deposited in the company's operating account and subsequently used by affiliated companies and and for the employer's personal benefit.
U.S. DOL, February 2001
USA Today, July 1999 New 401k Form Simplifies Price Comparisons Labor Dept and three Industry groups unveil 401k disclosure form to help businesses compare costs of competing plans.
'Poodle-Parlor' Retirement Plans Workers at small businesses, lacking 401k plans before, could find it easier to join now.
© 401(k) Pro, Inc. All rights reserved. 401k software and related service provided by 401(k) Pro, Inc.; Brokerage services provided by Mydiscountbroker.com, Member NASD/SIPC.
Wall Street Journal, Nov '98
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