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SAFECO Adds Self-Directed Brokerage Option

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NU Online News Service, May 31, 11:15 a.m. – SAFECO Life & Investments, Redmond, Wash., has agreed to use the ShareBuilder system from Netstock Corp., Bellevue, Wash., to add a Web-based, self-directed brokerage feature to its 401(k) program.

SAFECO, a unit of SAFECO Corp., says members of participating 401(k) plans can use the self-directed brokerage option without meeting any investment or account minimum requirements.

The Netstock Web site offers basic information about investments and retirement planning and detailed information about the stocks and index products sold.

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The fee for employees will be $4 per transaction, or $10 per month for an unlimited number of trades.

Adding the ShareBuilder option is free for employers, SAFECO says.