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Plan Update Targets Smaller Firms

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Hartford Financial Services Group Inc. has combined two existing 401(k) plan products in a new Aviator 401(k) program.

The program, aimed at business with up to $10 million in retirement plan assets under management, offers free, independent investment co-fiduciary services from an independent provider, according to Hartford Financial, Hartford.

Hartford also is adding 6 new Hartford target-date, increasing the number of Hartford target-date funds to 9.

The investment menu offers a total of 200 investment choices from 43 fund families. There are no requirements for customers to choose Hartford funds.

Other features include access to an asset-allocation program; a self-directed brokerage account option; and access to an automatic enrollment feature that comes with a choice of several qualified default investment alternative options as well as an automatic deferral increase feature.