Vanguard has announced it will pursue the small 401(k) market, i.e. plans with less than $20 million in assets and fewer than 1,000 employees, with low-cost, bundled plans administered by Ascensus.
Industry observers say the move is timely, since many sponsors are looking for low-cost and exchange-traded funds. Charles Schwab, for instance, is readying ETF-based 401(k) plans to launch in 2012. ING Direct already offers ETFs and index funds on its ShareBuilder 401K platform.
-- This article first appeared on Money Management Executive.
Register or login for access to this item and much more
All Financial Planning content is archived after seven days.
Community members receive:
- All recent and archived articles
- Conference offers and updates
- A full menu of enewsletter options
- Web seminars, white papers, ebooks
Already have an account? Log In
Don't have an account? Register for Free Unlimited Access