JPMorgan Chase creates small-business 401(k) plan

JPMorgan Chase has created a simplified 401(k) plan designed for its small-business clients.

Called Everyday 401(k), the program will use SS&C Technologies as the underlying record keeper. Company fees can be as low as $75 per month plus $5 per participant per month, the bank said in a release.

The plan can be set up and employees enrolled online, the bank said.

All of the investments in the plans are J.P. Morgan products, including its target-date mutual fund series. Employees are expected to pay average net mutual fund investment management fees of 47 basis points.

[More: The race for small-business 401(k)s]

The post JPMorgan Chase creates small-business 401(k) plan appeared first on InvestmentNews.

As our second lead editor, Cindy Hamilton covers health, fitness and other wellness topics. She is also instrumental in making sure the content on the site is clear and accurate for our readers. Cindy received a BA and an MA from NYU.

You May Also Like

Leave a Reply

Your email address will not be published. Required fields are marked *