Hartford Adds Micro DB Plan

An insurer has developed a cash balance defined benefit pension program aimed at small businesses and professional firms.

A Simsbury, Conn., unit of Hartford Financial Servicees Group Inc., Hartford, has rolled out the Aviator Cash Balance Program.

The ideal candidates are business owners or professionals who are within 5 to 10 years of retirement, are earning $250,000 or more per year, and already are contributing the maximum amount allowed to any available 401(k) plan or profit-sharing plan, according to Hartford.