ANOKA, Minn. -- Lund International Holdings Inc. is consolidating four defined contribution plans into one $14 million 401(k) plan.
It has hired MassMutual Retirement Services, Springfield, Mass., as its semibundled provider, according to Timothy Yungers, Lund International's vice president of human resources.
About 1,000 of Lund's 1,400 employees are eligible to participate, he added.
Lund International has created a set of nine separate investment options and four asset-allocation options based on degree of risk -- from conservative to risky.
The asset allocation portfolios will be created by All-Star Financial, Minneapolis, using the nine core funds. The four portfolios will be rebalanced annually, Mr. Yungers said.
The core investment options are guaranteed and core bond options by MassMutual; Enterprise Fund by OppenheimerFunds Inc.; small-cap equity by David L. Babson and Co. Inc.; international equity, subadvised by Harbour View Asset Management, a MassMutual affiliate; Equity Income II and Blue Chip Growth run by Fidelity Investments; indexed equity managed by Barclays Global Investors; and midcap growth by T. Rowe Price Associates Inc.
The consultant was Hays Financial Group, Minneapolis.
PwC offers online education
BOSTON -- PricewaterhouseCoopers LLP has launched an online education service that combines personal finance information with interactive worksheets, quizzes and audio.
A demonstration of the Financial Planning Campus is at www.pwcfps.com.
Courses on the Campus include cash management, insurance planning, investment planning, estate planning and stock options. Plan sponsors can customize the Campus by adding the company's specific benefit plans and personalized online benefit statements with retirement plan account balances.
Morningstar to launch advice service on Internet
CHICAGO -- Morningstar Inc. has announced it will be releasing an Internet-based advice service for 401(k) participants in the fourth quarter. The service is anticipated to help participants determine their financial goals for retirement and will recommend specific investment options to help them meet those goals.
Architec(k) software gets enhancements
ROCKVILLE, Md. -- Wiesenberger, a Thompson Corp. Co., has released an enhanced version of its Architec(k) retirement planning software that provides messages and educational content tailored to individual participants.
These messages are based on what the service provider knows about the plan participant and what the participant already has done with Architec(k), said Andrew Blumberg, executive vice president of Wiesenberger's Retirement Products Division.
"For example, if a participant went through the planning process without building a portfolio, a message would appear, 'Gee, Mr. Smith, we see you are in a position to take advantage of the company match but you have not done that. Click here.' "
Participants are categorized into groups defined by money manager and plan sponsor, he said.
Great-West sets small-plan program
DENVER -- Great-West Life & Annuity Insurance Co. is offering a new 401(k) semi-bundled strategy for plans with less than $5 million in assets.
The plan includes Internet services and annuity investment options, which are offered through alliances with AIM, American Century, Fidelity Investments, Lord Abbett, New England, Putnam, T. Rowe Price, Dreyfus, INVESCO, Janus, MFS, Marsico and Templeton.
Some of the funds available as investment options are: Janus Worldwide; Dreyfus Emerging Leader; American Century Equity; MFS Capital Opportunity; Fidelity Advance Growth Opportunity; AIM Charter A; Janus Twenty; American Century Ultra; Lord Abbett Bond; and Dreyfus Premier Technology Growth, said Kathy Jacoby, a Great-West spokeswoman.
InvestLink sets up software alliances
DENVER -- InvestLink Technologies, an affiliate of United Asset Management Corp., Boston, has formed an alliance with Flex-Soft to offer an Internet-based communications tool. Pensiononline.com will provide record keeping for clients of InvestLink, an administrator of defined contribution plans.
InvestLink also recently formed an alliance with document software provider AccuDraft to offer third-party administrators software for drafting 401(k), profit-sharing and money purchase plan documents.