NU Online News Service, July 25, 2003, 12:57 p.m. EDT – Manulife USA, Boston, has introduced Manulife Retirement Select, a mutual fund-based 401(k) plan aimed at plans with $3 million to $20 million in assets.
Manulife will provide recordkeeping and transaction support for the plans, but local plan administrators will provide the consulting and compliance support, the company says.
The plan will start out with 53 funds. The fund managers include American Funds; MFC Global Investment Management; AIM Capital Management Inc.; MFS Investment Management; Davis Advisors; PIMCO; Deutsche Asset Management; Putnam Investment Management L.L.C.; Fidelity Management & Research Company; Salomon Brothers Asset Management Inc.; Franklin Templeton; Scudder Investments; Lord, Abbett & Company L.L.C.; T. Rowe Price Associates Inc. and Wellington Management Company L.L.P.
Manulife, which also sells annuity-based 401(k) plans, is a unit of Manulife Financial Corp., Toronto.