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.

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