OppenheimerFunds Touts Its 401(k) Assistance
October 19, 2008
OppenheimerFunds Retirement Services has produced a white paper to publicize its retirement assistance program designed to help 401(k) plan participants take advantage of their plans’ benefits.
The new white paper focuses on the value of OppenheimerFunds’ Tru(k)ourse, which is an enhancement to the firm’s Pinnacle and Record(k)eeper Pro platforms. It was published by Fred Reish, a partner with the Los Angeles law firm, Reish Liftman Reicher & Cohen.
The enhancement is designed to help plan sponsors by combining automatic enrollment, automatic deferral increases and a Qualified Default Investment Alternative (QDIA), as well as the ability to select funds automatically for participants based on their ages.
The enhancement helps fiduciaries satisfy their duties under the Employee Retirement Income Security Act of 1974.
“It is not enough for a plan to provide top-quality investments,” said Rick Fuerman, vice president, OppenheimerFunds Retirement Services. “It’s equally important for the plan to provide adequate retirement benefits and help get employees to retirement by offering key features such as auto enrollment, auto deferral increase and a QDIA.”
For more information on related topics, visit the following:
