We invite you to read an excellent article written by John Humphrey, COO of July Business Services, a valued business partner of Mid Atlantic, discussing the new SEC-approved Money Market Fund rules taking effect on October 14, 2016.
In the article, Humphrey urges advisors and plan sponsors to not delay with choosing a new money market fund or cash investment solution prior to the effective date.
(Click here to read Money Market Rules for 401(k) and Other Qualified Plans.)
As an alternative solution, MATC now provides an FDIC insured service called DepositxChange™, which seamlessly connects 401(k) participants and banks to provide a cash deposit solution within the participants’ 401(k) accounts. This can be used as part of a qualified defined contribution plan space model or as a standalone investment.
Please click the hyperlink below for additional details:
If you have any questions, you may contact your Mid Atlantic relationship manager by calling (800) 693-7800.