Hartford Life Reduces Fees in 401(k) Plans.Hartford Hartford, city (1990 pop. 139,739), state capital, Hartford co., central Conn., on the west bank of the Connecticut River; settled as Newtown 1635–36 on the site of a Dutch trading post (1633; abandoned 1654), inc. 1784. Life Insurance Co., Simsbury Simsbury, town (1990 pop. 22,023), Hartford co., N Conn.; inc. 1670. Although the town is mainly residential, it produces ordnance, machinery, and chemicals. The Westminster School, the Ethel Walker School, and the International Skating Center are located in the town. , Conn,, has introduced asset-based fee reductions for 401(k) retirement-program participants. Separate account fees in plans featuring group annuities can be reduced whenever assets within a plan's contract reach predetermined pre·de·ter·mine v. pre·de·ter·mined, pre·de·ter·min·ing, pre·de·ter·mines v.tr. 1. To determine, decide, or establish in advance: levels. These levels are $1 million, $3 million, $5 million and $10 million. The asset-based fee reductions are available to service programs without contingent deferred sales charges Contingent deferred sales charge (CDSC) The formal name for the load of a back-end load fund. contingent deferred sales charge A mutual fund redemption fee that is reduced or eliminated for specified holding periods. . They become effective after a review process, which includes a monthly analysis of each plan's asset levels. The fees are reduced after Hartford Life determines that the plan is in compliance with its administrative service agreement and is up to date on fee payments. The reductions do not affect commissions paid to Hartford Life representatives. Hartford conducts automatic fee reviews so that there is no need for plan sponsors or participants to ask for the reductions, said Donald Donald (Domnall, Domhnall, Dumhnuil, Dónall) is an anglicized version of a Scottish or Irish Gaelic personal name, containing the elements dumno "world" and val "rule", viz. "ruler of the world". Compare Dumnorix. Salama, vice president and director of Retirement Plan Solutions. |
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