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Wachovia Retirement to Aid Small 401(k)s

By american banker
January 27, 2005
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Wachovia Retirement Services said Wednesday that it is expanding services to emerging businesses with 401(k) plan assets in the $500,000 to $3 million range.

Scott Joyner, the defined contribution sales manager in the retirement services unit of Wachovia Corp., a Charlotte banking company, said it now offers full-service retirement plans to companies of all sizes. By leveraging its WyStar record keeping platform, Wachovia can supply the features and benefits associated with larger plans at a more affordable price.

Smaller retirement plans will have access to more investment choices, including Wachovia's AdviceTrackSM managed account option.

Wachovia Retirement Services had $68 billion of assets under administration at Dec. 31.