Hewitt Associates introduced an IRA rollover service for the terminating employees of its defined contribution plan clients.
The Hewitt Portfolio IRA allows employees to move money from their employer-sponsored defined contribution plan into an individual retirement account. Employees can duplicate the investment options offered in the retirement plan or move into any of the externally managed mutual funds in Hewitt's alliance.
Employees can continue to hold company stock within the IRA program.
IRA investors can access account information and customer service support through a toll-free, voice-response system. Fees for the IRA are borne by the employee.