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Products February 16, 2006
AIG SunAmerica Introduces Small Business Retirement Plan Offering
February 16, 2006 (PLANSPONSOR.com)Today, AIG
SunAmerica Retirement Markets, Inc. introduced a new 401(k)
program tailored to the retirement plan needs of small and
medium size companies, the Polaris401(k).
Reported by Alison Cooke
Polaris401(k) will be available to plan sponsors through financial advisors and the company is offering both a comprehensive fully-bundled version or a flexible Third Party Administrator (TPA) version, AIG SunAmerica Retirement Markets, Inc., a subsidiary of AIG Retirement Services, Inc. said.
The plan administrative services for the Polaris401(k) will be handled by ADP Retirement Services.
The product offering will have no proprietary fund requirement and will include investment options from 14 money mangers including American Funds, MFS, Van Kampen, Lord Abbett, and Davis, a press release said. The plan will also offer asset allocation models and to help in the ongoing evaluation of the plan, the Polaris401(k) includes investment policy statement support for the plan sponsor or plan committee.
Participant services in the new product offering include an interactive Web site, a voice-response system in both English and Spanish and automatic account rebalancing.
Additionally, Polaris401(k) offers a one-year fixed account investment option with no market value adjustment and a death benefit equal to the amount invested less withdrawals and fees or current market value, whichever is higher
To learn more about Polaris401(k), call the Polaris401(k) Help Desk at 877-814-401(k) or e-mail polaris401k@sunamerica.com .