mPower Adds 44,000 New Participants to Its Online Investment Advice Service.Business Editors SAN FRANCISCO--(BUSINESS WIRE)--Feb. 27, 2001 National Auto Dealers Association Retirement Trust Makes Investment Advice A Core Component of its Defined Contribution Plan Defined contribution plan A pension plan whose sponsor is responsible only for making specified contributions into the plan on behalf of qualifying participants. Related: Defined benefit plan mPower, a leading provider of online investment advice, has announced the rollout of its service to the 45,500 participants in the National Automobile Dealers Association Retirement Trust (NADART NADART National Automobile Dealers Association Retirement Trust ) Investment Choice program bringing to 137,000 the number of new 401(k) plan participants Plan participants Employees or other beneficiaries who are eligible to receive benefits from a company's employee benefit plan. added to mPower's advisory service since the beginning of the year. This week, participants in NADART's Investment Choice program were introduced to mPower's independent investment advice. Five hundred and sixty members of the National Automobile Dealers Association offer their employees the benefit of participating in the Investment Choice program, which has approximately $860 million in assets. NADART manages and administers 401k pension and profit sharing profit sharing, arrangement by which employees receive, in addition to their wages, a share of the net profits of a business. The purpose is to give them an incentive to increase their output through enhanced morale, less wasteful use of materials, better care of plans for franchised new car and truck dealers and automotive trade organizations nationwide. "We believe it is important to provide unbiased investment advice to our 401(k) plan participants, not only to keep our organization competitive, but also to help our plan participants make wise investment choices," said Jim Apistolas, director of training and communications at NADART. Nearly 160 employers and organizations are now offering mPower's online retirement investment advice as a core benefit to its employees. About mPower.com, Inc. Founded in 1995, mPower Advisors, L.L.C., (http://www.mpower.com), a registered investment advisor Registered Investment Advisor (RIA) is a designation obtainable in the United States by an individual who has registered with the U.S. Securities and Exchange Commission or state regulatory agency (where the primary business is situated or multiple States in some cases) in , was the first to offer affordable, objective, and actionable Giving sufficient legal grounds for a lawsuit; giving rise to a Cause of Action. An act, event, or occurrence is said to be actionable when there are legal grounds for basing a lawsuit on it. online investment advice to defined-contribution plan Defined-Contribution Plan A retirement plan wherein a certain amount or percentage of money is set aside each year for the benefit of the employee. There are restrictions as to when and how you can withdraw these funds without penalties. participants, and remains a leading provider in this field. mPower's website also offers award-winning Adj. 1. award-winning - having received awards; "this award-winning bridge spans a distance of five miles" investment education information to help individual investors learn more about defined contribution plans, including the 401k, 457 and 403(b) plans, and Individual Retirement Accounts (IRAs). About the National Automobile Dealers Association The National Automobile Dealers Association (www.nada.org) represents America's franchised new-car and -truck dealers. Today there are more than 19,600 franchised new-car and -truck dealer members holding nearly 40,000 separate new-car and light-, medium-, and heavy-duty truck franchises, domestic and import. NADA membership is open to any new-automobile or new-truck dealership holding a new automobile or truck sales and service franchise. |
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