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BISYS To Administer New Pacific Life Individual(k) Plan

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NU Online News Service, Sept. 17, 2004, 6:42 p.m. EDT

Pacific Life Insurance Company, Newport Beach, Calif., has introduced the Pacific Life Individual(k) Program.[@@]

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The program is a 401(k) plan designed for self-employed business owners and their spouses. Owners who sponsor the plan can deduct contributions of up to $41,000 per year.

The program will offer a choice of 5 asset-allocation funds of funds. A unit of BISYS Group Inc., New York, will handle administration and recordkeeping.