Small Business Retirement Plans - ShareBuilder 401k Revamps Plans To Make Comparisons Easier

ING DIRECT’s ShareBuilder 401k, a provider of retirement plans for small business owners, has overhauled its product offerings and services in order to simplify the comparison process between the various 401(k) plans.

The new names listed are the Individual 401k designed for owner-only businesses, the Simplified 401k created to aid employee-based companies to max out contributions and fulfill government test requirements, the Customized 401k that permits pliable matching and accrediting options, and the Tiered Profit Sharing 401k that empowers businesses to compensate workers by group, tenure, or age.

“Our goal is to help any small business save by simplifying 401(k) 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.”

“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 401(k) product names help highlight essential 401(k) plan differences and benefits so any business can quickly identify the right 401(k) plan type for their business.”

As opposed to traditional 401k plans that require mutual fund earnings to fund the plan Sharebuilder 401k plans are constructed of ETF (Exchange Traded Funds). Sharebuilder 401k is a Registered Investment Advisor (RIA) and as such oversees the investment guardianship with its customers. This is not the norm within the industry.

The Sharebuilder Investment Committee concentrates on selecting low cost products only from the best ETF issuers such as iShares, SPDR and PowerShares.

Every ShareBuilder 401k product perform auto-enrollment, auto-re-balancing, Roth, signature ready 5500s and more. Also, each plan has available consultants, managers, and customer service reps for each purchaser.

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